The newbuildings are scheduled to be delivered from 2018 to 2019.
The shipbuilding order from ICBC rides on the back of its contracts of affreightment (COA) with Brazil’s Vale to transport iron ore over a 27-year period, utilising 10 valemaxes, with six from Yangzijiang and four from Qingdao Behai Shipbuilding Heavy Industry.
Vale has also entered into similar COA with Coscocs and China Merchants Energy Shipping (CMES) in recent weeks.
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