Wednesday, 13 Jul 2011
China Rongsheng Heavy Industries Group Holdings Limited a large heavy industries group in China and Vale SA the largest global iron ore supplier from Brazil held a naming and launching ceremony on July 9 for the first ever 400,000 DWT Very Large Ore Carrier built in China.
This new VLOC, named VALE CHINA is the first VLOC of a few to be delivered in the coming two years. The new vessel can significantly lower overall delivery costs of iron ore for Vale. The attendance of Vale’s new Chief Executive Officer underscored the long term cooperation between a major shipbuilder and ship owner.
Mr Chen Qiang CEO of China Rongsheng Heavy Industries and Mr Murilo Ferreira, the new Chief Executive Officer of Vale attended the ceremony. The Brazilian ambassadress was the godmother in the naming ceremony.
Mr Chen Qiang said "The early christening of VLOC as "VALE CHINA" reflected the dedication and importance of the cooperation of both parties, as well as Vale strong interest in collaborating with Chinese companies."
As the largest private shipbuilder in China, China Rongsheng Heavy Industries is one of the few shipbuilders in the world with the ability to build VLOCs of 400,000 DWT or larger. Within its shipbuilding segment, VLOCs account for the highest proportion of the contracts on hand in terms of contract value, thus the naming and launching of “VALE CHINA” has special significance for the Group's future development.
The 400,000 DWT VLOC launched is currently the world largest dry bulk carriers. It is a high tech vessel self-developed by the Group representing the world most advanced technology in very large bulk carriers. The vessel main engine was self-built by China Rongsheng Heavy Industries, which is a low speed diesel engine with the maximum power manufactured by Chinese enterprise independently so far.
After VALE CHINA is named and launched, the VLOC is expected to be delivered to Vale soon. Mr Chen Qiang said "The coming year will be a significant year of delivery for VLOCs. We expects VLOC construction amount equivalent to eight vessels for 2011 and two or three vessels to be delivered in accordance with the requirements of Vale. The Group is the first shipyard in China completing the construction of the 400,000 DWT VLOCs."
As the largest iron ore supplier and exporter in the world, Vale is not only one of China's major iron ore suppliers, but also the largest customer of China Rongsheng Heavy Industries. This visit fully affirmed the capability of China Rongsheng Heavy Industries in constructing very large vessel. Vale is seeking to enhance production capacity to meet the increasing demand from Asia. After the delivery of the 400,000 DWT VLOCs, Vale would be able to address the issues presented by the long voyage from Brazil to China and can then ship cargo to China and other regions in Asia with a fleet offering stronger economies of scale, thereby reducing its transportation costs.
The first China visit by Mr Murilo Ferreira the newly appointed CEO of Vale demonstrated the high value attached by Vale to a long-term partnership with the Group. Mr Chen Qiang said "The revenue contribution from China for Vale is very high. The visit is built on the solid collaborative relationship among Vale and the Chinese Government as well as private enterprises. With the construction and delivery of VLOCs, the Group intends to actively explore new areas for cooperation with Vale such as helps in obtaining export buyer credit."
In 2008, China Rongsheng Heavy Industries signed shipbuilding contracts for twelve 400,000 DWT VLOCs with Vale, with a contract value of USD 1.6 billion. The work under the contracts set three world records in carrying deadweight tonnage of single bulk carriers and total deadweight tonnage of orders and total contract value. The Group currently has orders for 16 VLOCs on hand with a total value of over USD 2.1 billion. Four VLOCs amongst the 16 was placed by Oman Shipping Company.
China Rongsheng Heavy Industries Group Holdings Limited a large heavy industries group in China and Vale SA the largest global iron ore supplier from Brazil held a naming and launching ceremony on July 9 for the first ever 400,000 DWT Very Large Ore Carrier built in China.
This new VLOC, named VALE CHINA is the first VLOC of a few to be delivered in the coming two years. The new vessel can significantly lower overall delivery costs of iron ore for Vale. The attendance of Vale’s new Chief Executive Officer underscored the long term cooperation between a major shipbuilder and ship owner.
Mr Chen Qiang CEO of China Rongsheng Heavy Industries and Mr Murilo Ferreira, the new Chief Executive Officer of Vale attended the ceremony. The Brazilian ambassadress was the godmother in the naming ceremony.
Mr Chen Qiang said "The early christening of VLOC as "VALE CHINA" reflected the dedication and importance of the cooperation of both parties, as well as Vale strong interest in collaborating with Chinese companies."
As the largest private shipbuilder in China, China Rongsheng Heavy Industries is one of the few shipbuilders in the world with the ability to build VLOCs of 400,000 DWT or larger. Within its shipbuilding segment, VLOCs account for the highest proportion of the contracts on hand in terms of contract value, thus the naming and launching of “VALE CHINA” has special significance for the Group's future development.
The 400,000 DWT VLOC launched is currently the world largest dry bulk carriers. It is a high tech vessel self-developed by the Group representing the world most advanced technology in very large bulk carriers. The vessel main engine was self-built by China Rongsheng Heavy Industries, which is a low speed diesel engine with the maximum power manufactured by Chinese enterprise independently so far.
After VALE CHINA is named and launched, the VLOC is expected to be delivered to Vale soon. Mr Chen Qiang said "The coming year will be a significant year of delivery for VLOCs. We expects VLOC construction amount equivalent to eight vessels for 2011 and two or three vessels to be delivered in accordance with the requirements of Vale. The Group is the first shipyard in China completing the construction of the 400,000 DWT VLOCs."
As the largest iron ore supplier and exporter in the world, Vale is not only one of China's major iron ore suppliers, but also the largest customer of China Rongsheng Heavy Industries. This visit fully affirmed the capability of China Rongsheng Heavy Industries in constructing very large vessel. Vale is seeking to enhance production capacity to meet the increasing demand from Asia. After the delivery of the 400,000 DWT VLOCs, Vale would be able to address the issues presented by the long voyage from Brazil to China and can then ship cargo to China and other regions in Asia with a fleet offering stronger economies of scale, thereby reducing its transportation costs.
The first China visit by Mr Murilo Ferreira the newly appointed CEO of Vale demonstrated the high value attached by Vale to a long-term partnership with the Group. Mr Chen Qiang said "The revenue contribution from China for Vale is very high. The visit is built on the solid collaborative relationship among Vale and the Chinese Government as well as private enterprises. With the construction and delivery of VLOCs, the Group intends to actively explore new areas for cooperation with Vale such as helps in obtaining export buyer credit."
In 2008, China Rongsheng Heavy Industries signed shipbuilding contracts for twelve 400,000 DWT VLOCs with Vale, with a contract value of USD 1.6 billion. The work under the contracts set three world records in carrying deadweight tonnage of single bulk carriers and total deadweight tonnage of orders and total contract value. The Group currently has orders for 16 VLOCs on hand with a total value of over USD 2.1 billion. Four VLOCs amongst the 16 was placed by Oman Shipping Company.
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