China COSCO Shipping Corporations (COSCOCS) conducted a naming ceremony for its sixth Valemax very large ore carrier (VLOC) in Yangzhou on Thursday, April 18. The 400,000 dwt ‘Yuan Shen Hai’ is one of ten VLOCs Shanghai Waigaoqiao Shipbuilding (SWS) will deliver to COSCO under a contract 2016.
Mainly, the vessel is 362 metres long and 65 metres in breadth.
The Singapore-flagged vessel will transmit iron ore from Brazil to China, based on the 27-year contract that was established between COSCOCS and Brazilian miner, Vale.
The remaining four Valemaxes for COSCOCS are to be delivered at the end of 2019.
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Moreover, the company addressed the vessel will provide customers with quality service based on its advantages of economic, green, environmental protection and safety.
ICBC and CMES also agreed to partner on the VLOC project with the aim of reducing operational risks.
The Valemax fleet is expected to give Chinese carriers control of about 30% of total iron-ore imports into the country in terms of volume.
