March 20, 2012 / 10:24 AM / 6 years ago

China Rongsheng to deliver 10 VLOCs to Vale this year

HONG KONG, March 20 (Reuters) - China Rongsheng Heavy Industries Group Holdings Ltd, the country’s largest non-state-owned shipbuilder, said on Tuesday that it plans to deliver 10 very large ore carriers (VLOCs) to Brazilian mining giant Vale SA this year.

Chief Executive Chen Qiang told reporters at a results briefing that there had been a delay in the delivery of more than 10 vessels last year due to the European debt crisis.

Rongsheng makes bulk carriers, crude oil tankers, container ships, offshore engineering products and engines, with its customers including Cardiff Marine Inc, Frontline Ltd, Geden Lines and China National Offshore Oil Corp (CNOOC).

It has received orders to build 16 very large ore carriers (VLOCs). Brazilian mining giant Vale SA ordered 12, and the other four were ordered by Oman Shipping Co, which will contract the ships to Vale.

Rongsheng delivered the first VLOC to Vale last November, but its plan to cut transport costs with a fleet of giant “Valemax” VLOCs ran into trouble in January after China refused to allow the 400,000 deadweight tonne vessels to dock at its ports. (Reporting by Alison Leung; Editing by Chris Lewis)

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