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 is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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1 Comment

  1. Avatar
    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