Taiwan's U-Ming Marine Transport has grabbed a slice of the Vale VLOC action with a newbuilding order in China.
It said its Singapore subsidiary has signed a 25-year contract of affreightment (COA) with Vale International of Switzerland, part of the Brazilian mining group.
"The COA is the biggest and longest commitment in U-Ming’s history and the total contract value is anticipated to be more than $600m with a bunker adjustment clause," it added.
