Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

China Merchants Energy Shipping confirms 27-year deal with Vale

China Merchants Energy Shipping confirms 27-year deal with Vale
China Merchants Energy Shipping (CMES) has sealed a long term 27-year charter contract to transport iron ore for Brazil's state mining giant Vale, following an earlier similar deal made by Coscocs.

The signing of the contract of affreightment between CMES and Vale was made on 21 March in Beijing.

The deal, scheduled to start in the first half of 2018, will see the deployment of CMES' fleet of 390,000 dwt valemaxes, which will carry approximately 16m tonnes of iron ore each year.

Last Friday, Coscocs also sealed a 27-year-long shipping charter contract with Vale to transport some 16m tonnes of iron ore per year.

The latest CMES-Vale deal marks the implementation of the strategic cooperation agreement made between the two companies back in September 2014, which mentioned a 25-year contract of afrreightment for 10 VLOCs, CMES said in a regulatory filing.

Hide comments
account-default-image

Comments

  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.
Publish
TMSRPan21-22 Category Promo 600_600-resize
Read Now

The 21st Edition of Panama Maritime Review

"We will invest in digital transformation, exploring innovative ways in which we can maxinimise the Canal's capacity to provide value guarentee quality of service to our customers."

Ricaurte Vásquez Morales, Panama Canal Administrator

Read Panama Maritime Review 2021/22 to find out more.

TMSRPan21-22 Category Promo 600_600-resize