Yangzijiang

Yangzijiang: Clinched new orders for dry bulk carriers worth US$510m from Chinese state-owned enterprise. The orders for six 400,000 DWT very large ore carriers (VLOCs) were awarded by ICBC Leasing, a wholly owned subsidiary of ICBC, China's largest state-owned commercial bank and are scheduled for delivery from 2018 to 2019. They are part of the 30 VLOC orders placed by major Chinese ship owners, after they entered into the contract of affreightment (COA) with mining group Vale to transport iron from Brazil to China over a period of up to 27 years.