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.
Anyone know who the broker is (if any)? It’s almost never reported, but very interesting information . . . .
Hi Tony — this one actually came as a release from the Japanese owner — somewhat of a rarity