China’s ICBC Leasing has officially signed the shipbuilding contracts with CSIC-affiliated Beihai Shipbuilding Industry yesterday for the construction for six 325,000 dwt VLOCs plus options to construct three more.
The order is under a contract of affreightment ICBC Leasing signed with Brazilian miner Vale, following ICBC Leasing’s order of 10 VLOCs in 2016 under a similar deal with Vale.
The price for each vessel is $75m and the vessels are expected to be delivered between the end of 2019 and 2021.
Vale started a new round of shipping capacity expansion this year via COA deals with South Korean and Chinese shipowners including Pan Ocean, Korea Line, SK Shipping, ICBC Leasing and China Merchants.
