HONG KONG (Dow Jones)–China Rongsheng Heavy Industries Group Holdings Ltd. (1101.HK)–China’s biggest non state-owned shipbuilder by order book–said Tuesday it expects to deliver this year the bulk of a dozen supersized vessels ordered by Brazilian miner Vale S.A. (VALE).
Rongsheng Chief Executive Chen Qiang said the company plans to deliver two supersized vessels–originally due for delivery last year–to Vale within the next two months and all but one of the remaining supervessels by the end of the year. The final ship will be delivered in 2013. The first was delivered in November.
The Valemax ships–a class also known as “very large ore carriers”, or VLOCs–have a capacity of 400,000 deadweight tons. The larger vessels can help reduce the Brazilian miner’s shipping costs to China.
Chen said the company received a total of US$1.8 billion in new orders in 2011 and expects to secure more than that this year.
-By Joanne Chiu, Dow Jones Newswires
Sign up for gCaptain’s newsletter and never miss an update
Essential maritime and offshore news, insights, and updates delivered daily straight to your inbox
What (Acting) Secretary Hung Cao’s First Five Months Tell Us About the Job Ahead By Bruce Kimbrell (Policy Op-Ed) President Trump has nominated the Honorable Hung Cao to become the...
Brazilian mining giant Vale is pushing the boundaries of maritime decarbonization with plans to deploy the world’s first ocean-going vessel powered primarily by ethanol—a move that could slash greenhouse gas emissions by...
Five U.S. unions are calling on lawmakers to pass legislation that would help secure long-term funding to revive domestic shipbuilding, an effort championed by President Donald Trump and boosted by new port fees on Chinese ships.
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
