SWS Hands Over First Valemax Newbuilding to COSCOCS

Chinese shipping giant China COSCO Shipping Corporation (COSCOCS) has taken delivery of its first 400,000 dwt very large ore carrier from Shanghai Waigaoqiao Shipbuilding (SWS).

Handed over on January 11, the Singapore-flagged vessel is the first from the batch of ten VLOC ordered from the China State Shipbuilding Corporation’s (CSSC) shipyard in April 2016.

The VLOC Yuan He Hai would transport ore cargoes for Brazilian miner Vale.

Under a 27-year agreement signed between COSCOCS and Vale in March 2016, the company would transport 16 million tons of iron ore for Vale on an annual basis.

The remaining newbuilds, all featuring a length of 362 meters and a width of 65 meters, are slated for delivery in 2018 and 2019.

The shipping firm informed that the ships are green, environmentally-friendly, and energy-saving, with fuel consumption reduced by nearly 30%.

World Maritime News Staff; Image Courtesy: China COSCO Shipping Corporation