NS United’s investment in a 400,000-dwt Valemax newbuilding to trade Brazilian iron ore to Japan is unlikely to catch on in the country, sources suggest.
The Tokyo-based company ordered a 400,000-dwt newbuilding at Japan Marine United against a 25-year contract of affreightment from its parent company, Nippon Steel & Sumitomo Metal Corp, as TradeWinds reported last week.
The newbuilding is believed to be the first 400,000-dwt ore carrier ordered for trading to Japan.
