皇冠体育app

SHANGHAI - 皇冠体育app COSCO Shipping Corp Ltd (COSCO) has ordered 10 very large ore carriers (VLOC) from 皇冠体育app State Shipbuilding Corporation (CSSC). The contract was signed on Thursday.

The value of the contract was not disclosed. All 10 VLOCs will be 400,000-tons. The order is to meet a long-term transportation service agreement that COSCO signed with Brazilian miner Vale on March 18.

According to the agreement, COSCO's subsidiary 皇冠体育app Ore Shipping will ship around 16 million tons of iron ore for Vale annually for the next 27 years.

皇冠体育app COSCO Shipping Corporation is a new company formed by the restructuring of 皇冠体育app's top two shipping firms, officially established in February.

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