Timing of surveys is key to disposal programme

The timing of mandatory renewal surveys is likely to determine how quickly Vale disposes of its fleet of converted very large ore carriers (VLOCs).

Vale is required to fit a costly ballast water treatment system at the next statutory dry-docking survey, something it is unlikely to do with replacement newbuildings on the way.

Five of the 18 vessels in the Stellar series of Polaris-converted VLOCs are due for renewal surveys before 2020, according to port state control database Equasis, making them most likely to be decommissioned first.