NS United fixes VLOC deal with Vale

NS United fixes VLOC deal with Vale

Japanese owner NS United Kaiun Kaisha (NSU) has fixed another deal with Brazilian miner Vale and will order a very large ore carrier (VLOC) on home soil to carry iron ore. The 25-year contract of affreightment (COA) to transport Brazilian iron ore will commence in the second half of 2020.

This COA follows the 25-year contract between NSU and Vale concluded in December 2016 which will commence in the second half of 2019.

“As NSU targets a large portfolio of domestic and overseas customers in accordance with its Mid-Term Business Plan (FY 2017-2019), NSU is confident that this new long-term business will contribute to efficient and stable transport for Vale’s export expansion strategy,” the Japanese owner said in a release.

Following the high profile sinking of an ancient VLOC hauling its iron ore earlier this year, Vale has set about sealing a series of deals with predominantly Asian owners to carry its raw materials on brand new giant bulkers.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

Related Posts

2 Comments

  1. Avatar
    Tony Fordyce
    November 29, 2017 at 9:39 am

    Anyone know who the broker is (if any)? It’s almost never reported, but very interesting information . . . .

  2. Sam Chambers
    Sam Chambers
    November 30, 2017 at 7:39 am

    Hi Tony — this one actually came as a release from the Japanese owner — somewhat of a rarity