Leaks found in Vale’s new “mega ore” vessel after only two months

Tuesday, 06 December 2011 02:24:20 (GMT+3)   |  
       

A leak in the ballast tank of a 400,000 metric ton-capacity iron ore vessel leased to Vale was reported Monday, only two months after being delivered.  The $110 million dollar ship, the "Vale Beijing," is part of Vale's plan to form a fleet of 35 "mega ships" to help curtail the cost of fluctuating cargo rates to China.  Luckily, the leak was discovered while the vessel was being loaded at Ponta da Madeira, Brazil, instead of in service at sea.

According to the company that leased the ship--Seoul, Korea-based STX Pan Ocean Co.--it will undergo repairs while the cause of the leak is investigated.  Currently, STX has a 25-year, $5.8 billion deal with Vale to operate as much as eight similar-sized vessels for the world's largest iron ore miner.


Similar articles

Daily iron ore prices CFR China - March 29, 2024

29 Mar | Scrap & Raw Materials

Major steel and raw material futures prices in China - March 29, 2024

29 Mar | Longs and Billet

Iron ore prices drop by over $9/mt week on week, mood remains bad

28 Mar | Scrap & Raw Materials

Goa government to ease policy for liquidating iron ore dumps lying on private land

28 Mar | Steel News

Major steel and raw material futures prices in China - March 28, 2024

28 Mar | Longs and Billet

CISA: Coking coal purchase cost in China down 9.86% in Jan-Feb

28 Mar | Steel News

Brazilian high-grade iron ore price declines sharply in two days

27 Mar | Scrap & Raw Materials

Daily iron ore prices CFR China - March 27, 2024

27 Mar | Scrap & Raw Materials

India’s JSPL takes operational charge of iron ore complex in Venezuela

27 Mar | Steel News

Major steel and raw material futures prices in China - March 27, 2024

27 Mar | Longs and Billet