Another mining giant gets its own bulk fleet

Australian mining giant Fortescue's entry onto the VLOC-owner stage is yet another example that the mining industry is looking to establish its own fleet of large vessels. The tonnage covers six percent of Fortescue's shipping needs.

BY TOMAS KRISTIANSEN

Published: 15.08.14 at 12:58

Brazilian Vale came first, as the carrier built the major VLOC vessels in an effort to own a significant part of the tonnage carrying the mining giant's production. And with Fortescue's decision to order its first fleet of VLOC's before the summer, though slightly smaller than Vale's - Fortescue's three bulk vessels stand at 260,000 dwt each - the Australian company has entered the stage as a major active shipowner.

According to an analysis by Bimco, the order in itself contributes to a rising trend from 2016 in terms of tonnage delivered to the dry bulk market., where the trend is otherwise shrinking this year and next year.

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