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NYK order a 300,000 ton ore carrier

2K views 6 replies 7 participants last post by  Ron Stringer 
#1 ·
From SeaNews.com -

The Tokyo-based giant ordered a second 300,000-tonner at Universal Shipbuilding against a long-term charter from Chinese steel mill Beitai Iron&Steel Group.

Earlier this month, NYK announced it had signed a 25-year charter with Beitai to import iron ore from Brazil.

It will ship around 700,000 tonnes of iron ore per year between November and August 2011 using a 170,000-dwt ore carrier and 1.2 million tonnes between August 2011 and the next 20 years using a 300,000-dwt ore carrier.

Beitai is said to be the first Chinese company to take a VLOC from NYK.

In December 2005, NYK ordered its first VLOC at Universal for delivery in the first quarter of 2010 against a contract-of-affreightment (COA) from Japanese steel mill Nippon Steel Corp (NSC).

The ship will carry around 1.25 million tonnes of iron ore per year from Brazil to NSC's steel plants in Japan.

The contract is said to belong term.

Meanwhile, Chinese owner Cosco has ordered two more 297,000-dwt VLOCs at Nantong Cosco Kawasaki Shipyard (Nacks), bringing the total number of such ships it has on order there to four.

A source close to Cosco confirms the deal and says Nacks will deliver all four in 2009. TradeWinds understands the newbuildings are still charter-free.

Cosco also has four VLOCs under construction at Universal for delivery between 2008 and 2010. They were ordered against long-term contracts Cosco secured from steel giants Baosteel and Angang.


Rushie
 
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#3 ·
I sincerely hope that they have figured out how to get all the loading stresses and strains sorted out. Dangerous vessels at the best of times. We all know of the disasters that have already gone before. Profit is rearing its ugly head here. I know doubt some of my colleagues will set me straight.
Hawkey01
 
#6 · (Edited)
Hawkeye, I'm intrigued by your comments. What's wrong with profit and why is it rearing it's ugly head? Of course, everything should be done to eradicate structural failures, but there are dozens of VLOCs currently trading worldwide without incident and making a decent profit! I sincerely hope that no-one from the leftie anti-capitalist/green/ anti mobility/ anti-choice/let's-all-live-in-a-hippy commune lobby is watching as they will probably try to ban it.

Thamesphil
 
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