Last month we reported Fortescue Metals Group’s order for four very large ore carriers valued at $275m.
This month brings the news that Australia’s third-largest iron ore producer is negotiating for another four VLOCs to handle increasing iron ore volumes from the Pilbara region.
The first order should see ships delivered from Yangzijiang Shipbuilding in November 2016 and early 2017. FMG has confirmed it is speaking with another Chinese shipbuilder about a separate order for four more ships likely to be delivered in late 2017 and early 2018.
Once delivered, the eight bulkers are expected to handle about 12% of FMG’s iron ore through Port Hedland.