Polaris Very Large Ore Carrier Adrift Off Brazil After Fire

One of the world's largest bulk carriers and a sister vessel to the ill-fated Stellar Daisy is adrift off the coast of Brazil after a fire knocked out power to the vessel more than four days ago. The 1994-built Very Large Ore Carrier (VLOC) Stellar Samba has been disabled since May 26 after a fire in its engine room. Crew members were able to extinguish the fire and no … [Read more...]

Hyundai Heavy to Build Five More VLOCs for Polaris Shipping

South Korean shipbuilder Hyundai Heavy Industries (HHI) has announced that it has signed a $400 million contract to build an additional five Very Large Ore Carriers (VLOCs) for Polaris Shipping. The newbuild order is the result of an option exercised following the contract for ten VLOCs of the same class with Polaris Shipping on September 25. The original order … [Read more...]

Hyundai Heavy Confirms Polaris Shipping Order for 10 VLOCs

South Korea shipbuilder Hyundai Heavy Industries has announced it has signed a $800 million contract to build ten of the world's biggest iron ore carriers for Polaris Shipping. The contract, which was signed September 25, is the biggest single order that HHI has received since 2012 when it built ten large containerships for a Greek owner. The order calls for the … [Read more...]

Vale Sells Two Very Large Ore Carriers for $178 Million

Brazilian mining company Vale SA on Wednesday said it has sold two ships with a capacity to carry 400,000 tonnes of iron ore each for a total of $178 million. The company said it received the payment on August 8 and that it is in talks to sell two remaining ships of the same class (VLOC, very large ore carriers).  Vale said it is also negotiating the sale of its … [Read more...]

MV STELLAR DAISY Loss Casts Shadow Over Fleet of Vale Iron-Ore Carriers

By R.T. Watson (Bloomberg) -- A second vessel contracted to haul iron ore for Brazilian miner Vale SA was delayed for repairs following the loss of a similar ship that mysteriously sank en route to China leaving 22 people presumed dead. The Stellar Queen departed Vale’s port terminal in northeastern Brazil on May 7 carrying almost 300,000 metric tons of ore, according to the … [Read more...]