China Shipping Development Co., Ltd., through a cargo ship affiliate, just received its first 230,000DWT very large ore carrier (VLOC), the first of its kind built by Chinese shipyards.

A total of VLOCs, worth about CNY 1.606 billion, have been ordered and
are scheduled to be delivered from 2010 to 2012. Four of them are
scheduled for delivery in 2010 and 2011, disclosed Qiu Guoyuan, vice
general manager of China Shiping Development and general manager of the
cargo ship affiliate. After all the VLOCs are delivered, the VLOC feet
will become one of the fourth largest in the Chinese shipping industry.

The newly-delivered VLOC has been developed and designed by CSSC
Guangzhou Longxue Shipbuilding Co., Ltd. and Shanghai Merchant Ship
Design & Research Institute, both under the aegis of state-owned
shipbuilder China State Shipbuilding Corporation (CSSC)

The cargo ship affiliate, under the wing of China Shipping
Development’s parent China Shipping (Group) Company, will use the
carrier to transport iron ore from Australia to Caofeidian, north
China, for Chinese steel titan Shougang Group.

Source: China-cbn

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