The world's largest iron ore producer, Brazilian miner Vale, and South Korean steelmaker POSCO have allocated two very large ore carriers (VLOCs), with a capacity of 250,000 deadweight tons (dwt) each, for the transport of iron ore to South Korea.
The first VLOCs, vessels M/V Stellar Kosmo and M/V K. Cosmos, this week completed their first ore loading at Vale's Ponta da Madeira terminal, in São Luís, Maranhão state.
By the end of the year, two more VLOCs ordered by POSCO are to be added to the Brazil-South Korea route.
Vale has sought to encourage its clients to use large ore carriers and, at the same time, has been investing in the maritime infrastructure to receive larger ore carriers.