Greater China

Fortescue Metals orders four iron ore carriers in China

Shanghai: Fortescue Metals Group, Australia’s third-largest iron ore producer, announced that it has signed a $275m contract with a Chinese shipyard to build four iron ore carriers.

Fortescue said the four vessels, which will be much larger than traditional capesize vessels, will be designed specifically for Port Hedland’s shallow harbor and tidal conditions. In addition to being larger, each ship will be 260,000dwt, making them the biggest ships servicing the port.

"These vessels are a natural extension of our supply chain and will play a significant role in increasing efficiencies at the Port and lowering costs. They also reflect and strengthen our close relationship with China, our largest customer," said Fortescue ceo Nev Power.

The ships will be delivered from November 2016 to May 2017. [17/06/14]

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