China Merchants locks in $2.8bn Simandou VLOC contract

China Merchants Energy Shipping has locked in a major piece of the emerging Simandou iron ore trade, signing a 25-year transport agreement worth at least $2.8bn. Shanghai-listed CMES said that its dry bulk arm, Hong Kong Ming Wah, has signed the long-term transportation agreement with a customer covering six very large ore carriers (VLOCs), with … Read full article →