Shipping
Vale contracts HMM for USD 3.5 billion in bulk shipping
South Korean shipping company HMM Co. secured a long-term contract worth 4.7 trillion won (USD 3.5 billion) with Brazilian mining company Vale to transport bulk cargo. The agreement involves eight 210,000-ton capacity Newcastlemax vessels, delivered successively starting in 2030 under 25-year contracts. The bulk carriers will feature triple-fuel engines capable of operating on methanol, ethanol, and conventional fuel oil, in addition to being ready for LNG and ammonia, and will incorporate rotor sails to reduce carbon emissions.
