ICBC Leasing Orders Six VLOCs at Qingdao Beihai

Dec 29, 2017

ICBC Leasing has signed the contract for the construction of six very large ore carriers (VLOCs) at Qingdao Beihai Shipbuilding Heavy Industry, according to local media.

Reports suggest that the vessels would be delivered from the shipyard, which is a part of the state-owned China Shipbuilding Industry Corporation, starting from late 2019 to 2021.

The deal allegedly includes options for three more carriers. Each unit has a price tag of around USD 75 million. Featuring a length of 340 meters and a width of 62 meters, the LNG-ready ships would transport cargo from Brazil to Asia.

World Maritime News contacted ICBC Leasing for confirmation and more details on the matter, however, the company is yet to reply.

The newbuilding orders were placed as part of the long-term contract of affreightment (COA) signed in April 2016 with Brazil’s mining giant Vale. The 27-year iron ore transport deal would see some 16 million tons of iron ore transpored on an anual basis, starting from the first half of 2018.