16
Nov
10:44
CMES orders first of 10 new Valemaxes
China Merchants Energy Shipping (CMES) has approved a plan to order ten new 400,000 deadweight tonne Valemax very large ore carriers (VLOC) on top of the four it already operates. The ships are expected to ship ore from Vale’s Brazilian mines on a 20-year lease, Kallanish notes.
China Merchants Heavy Industry (Jiangsu) will build two of the new ships, while the remaining eight are to be built by an unnamed company.
The ships are expected to be…
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Very good overview of the weekly steel market.
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