Yangzijiang Books Fortescue VLOC’s

Photo Courtesy Yangzijiang Shipbuilding

SINGAPORE, June 18 (Reuters) – Yangzijiang Shipbuilding Holdings Ltd has won an order to build four very large ore carriers for Australian iron ore miner Fortescue Metals Group Ltd, company statements and a source familiar with the situation said.

Yangzijiang did not disclose the value of the contract or the owner of the ships, though earlier in the week Fortescue said it had signed a $275 million contract with a Chinese yard to build four big iron ore carriers.

A source familiar with the situation confirmed that Fortescue, the world’s fourth-largest iron ore miner, has placed the order with Yangzijiang, one of China’s top shipbuilders.

It is Yangzijiang’s first order for this type of vessel. The four vessels, at 260,000 deadweight tonnes each, are expected to be delivered in 2016 and 2017, Yangzijiang said in a statement. (Reporting by Rujun Shen; Editing by Michael Perry)

© 2014 Thomson Reuters. All rights reserved.

Unlock Exclusive Insights Today!

Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.

Sign Up