CMES to operate valemaxes from Hong Kong

CMES to operate valemaxes from Hong Kong

China Merchants Energy Shipping (CMES) has announced that it has established a fully owned subsidiary, China VLOC Company, in Hong Kong to operate valemaxes.

CMES signed an agreement with Brazilian mining giant Vale in July for the purchase of four 400,000dwt VLOCs and said it will keep investing in the iron ore shipping project. CMES will order additional 10 VLOCs to fulfil a 25-year contract of affreightment signed with Vale.

China Shipping Development (CSD) and Cosco have also together established a joint venture, China Ore Shipping, in Singapore in May to operate valemaxes.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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1 Comment

  1. Paulo Silvano
    September 2, 2015 at 11:48 am

    The best VALE´s decision. Henceforth the company shall be focusing to their core business, mining