China shipbuilder Yangzijiang Shipbuilding has won shipbuilding orders for six 400,000 DWT Very Large Ore Carrier (VLOC) in April 2016, with a total contract value of US$510 million ($686 million).
The VLOCs are scheduled for deliveries from 2018 to 2019. The orders were placed by ICBC Leasing, one of the largest shipowners in China and is a wholly-owned subsidiary of ICBC, China’s largest state-owned commercial bank.
The orders are part of the 30 VLOC orders placed by major Chinese shipowners, including ICBC Leasing, after they entered into the contract of affreightment (COA) with mining group Vale to transport iron from Brazil to China over a period of up to 27 years. Other than Yangzijiang, all other shipbuilders that received these VLOC orders are state-owned companies.
The Valemax vessels will measure 362 meters in length and 65 meters in width, with enhanced features in structure, energy efficiency and safety. These vessels will also be equipped to be fuelled by LNG.
Shares of Yangzijiang last traded at 95 cents.
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The VLOCs are scheduled for deliveries from 2018 to 2019. The orders were placed by ICBC Leasing, one of the largest shipowners in China and is a wholly-owned subsidiary of ICBC, China’s largest state-owned commercial bank.
The orders are part of the 30 VLOC orders placed by major Chinese shipowners, including ICBC Leasing, after they entered into the contract of affreightment (COA) with mining group Vale to transport iron from Brazil to China over a period of up to 27 years. Other than Yangzijiang, all other shipbuilders that received these VLOC orders are state-owned companies.
The Valemax vessels will measure 362 meters in length and 65 meters in width, with enhanced features in structure, energy efficiency and safety. These vessels will also be equipped to be fuelled by LNG.
Shares of Yangzijiang last traded at 95 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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