ICBC Reveals Builders of Its Valemax Series

  • Business & Finance

ICBC Financial Leasing Co has disclosed the names of builders of its ten 400,000 dwt VLOCs intended to transport iron ore from Brazil to China under a recently sealed deal with Brazilian mining conglomerate Vale.

Six Valemaxes are to be built by China’s privately-owned Yangzijiang Shipbuilding whereas the remaining four VLOCs are to be constructed by China Shipbuilding Industry Corporation.

The ships are to start their respective deliveries from 2018.

ICBC Financial Leasing confirmed on Monday signing of the contracts of affreightment with Vale for a 27-year period on April 8th. Under the COA, ICBC will transport about 16 million tons of iron ore annually for Vale from Brazil to China starting from the first half of 2018.

On the same day, ICBC closed the construction contracts for the new ships.

Chinese shipping companies Cosco Group, China Merchants Group and ICBC Financial Leasing Co. have together stacked up orders for 30 Valemax ore carriers worth a total of USD 2.5 billion at local yards.

The shipyards entrusted with the construction also include Shanghai Waigaoqiao Shipbuilding, Beihai Shipbuilding, CIC Jiangsu and Yangzijiang Shipbuilding.

World Maritime News Staff

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