China's COSCO Shipping orders 10 ships from CSSC
SHANGHAI, April 1 (Reuters) - China COSCO Shipping Corp has placed an order for 10 very large ore carriers (VLOC) from China State Shipbuilding Corp (CSSC), the official Xinhua news agency reported late on Thursday.
The value of the contract was not disclosed, but all 10 of the vessels will be large 400,000 tonne ships, Xinhua said.
The vessels would help COSCO Shipping meet a long-term agreement signed last month with Brazil's Vale SA to ship 16 million tonnes of iron ore per year for the miner for almost the next three decades, the report added.
China COSCO Shipping Corp was launched in February following the merger of former rivals China Ocean Shipping (Group) Co and China Shipping Group. (Reporting by Adam Jourdan; Editing by Richard Pullin)
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