Dalian: Yuan Zhuo Hai, one of four 400,000dwt VLOCs acquired by China Ore Shipping from Brazilian ore giant Vale, has arrived Dongjiakou Port in Qingdao and becomes the first valemax to unload at a Chinese port for two years.
China Ore Shipping, a joint venture between two state run shipping giants Cosco Group and China Shipping Group, acquired four valemaxes which are now named Yuan Zhen Hai, Yuan Jian Hai, Yuan Zhuo Hai and Yuan Shi Hai from Vale for $445m in May. The vessels have been chartered back by Vale on a 25-year deal, with the two parties also signing a 20-year contract for 10 further valemaxes to be built by Cosco.
The last time a valemax arrived at a Chinese port was in April 2013 at Lianyungang Port.
Qingdao Port completed the 400,000dwt bulk terminal at Dongjiakou in 2014. Dalian Port, Zhanjiang Port and Lianyungang Port have been accelerating the development of 400,000dwt bulk terminals in order to cater for the vessels following the central government’s ban on valemaxes lifted in February, when the Ministry of Transport released design details for new 400,000 dwt bulk carriers and new regulations for large-sized bulk terminal construction.