On June 2nd, China Ore Shipping accepted the delivery of four 400,000DWT VLOCs from Vale. The four vessels were named “Yuan Zhenhai”, “Yuan Jianhai”, “Yuan Zhuohai”, and “Yuan Shihai” respectively.
The acceptance of delivery is the implementation of the Vessel Purchase Agreement signed between China Ore Shipping and Vale in Brasilia on May 19th.
China Ore Shipping Pte. Ltd is a joint venture between China COSCO Bulk Company (51% stake) and China Shipping Development Company (49% stake)