Nippon Steel & Sumitomo Metal Corp (NSSMC) is Japan’s largest steel producer. It has placed orders for nine Super Cape Vessels of 230-250,000 dwt each. The delivery of the vessels is expected by 2018 and 2019. This order for capesize vessels is done with an intention to replace its fleet of chartered in capesize vessels.
NSSMC will take the vessel from the below mentioned Japanese Companies:
- Mitsui OSK Lines – 3 Vessels
- NS United – 2 Vessels
- K Line – 2 Vessels and
- NYK – 2 Vessels.
The shipping companies have placed the orders with Japan’s Namura Shipbuilding and Imabari Shipbuilding. The Very Large Ore Carriers (VLOC) will be chartered from the four Japanese firms, for a period of 8 to 15 years, according to U.S. Shipbroker Compass Maritime.
Adding to it, the broker quotes: “This will add another 2m tonnes of capacity to the already saturated cape and VLOC market, and follows on the heels of recent reports regarding COSCO’s new order for a large number of 400,000-dwt Valemax bulkers from Chinese yards.”