Valemax ships are a fleet of very large ore carriers (VLOC) owned or chartered by the Brazilian mining company Vale S.A. to carry iron ore from Brazil to European and Asian ports. With a capacity ranging from 380,000 to 400,000 tons deadweight, the vessels meet the Chinamax standard of ship measurements for limits on draft and beam. Valemax ships are the largest bulk carriers ever constructed, when measuring deadweight tonnage or length overall, and are amongst the longest ships of any type currently in service.DSME delivering Vale Brasil, the world's largest ore carrier . Det Norske Veritas, 1 June 2011. Retrieved 1 September 2011
The first Valemax vessel, Vale Brasil, was delivered in 2011. Initially, all 35 ships of the first series were expected to be in service by 2013, but the last ship was not delivered until September 2016. In late 2015 and early 2016, Chinese shipping companies ordered 30 more ships with deliveries in 2018–2020. Three additional vessels were ordered by a Japanese shipping company, bringing the total number of Valemax vessels to 68 .
Construction
First series
In 2008, Vale placed orders for twelve 400,000-ton Valemax ships to be constructed by Jiangsu Rongsheng Heavy Industries (RSHI) in China and ordered seven more ships from South Korean Daewoo Shipbuilding & Marine Engineering (DSME) in 2009. In addition sixteen more ships of similar size were ordered from Chinese and South Korean shipyards for other shipping companies, and chartered to Vale under long-term contracts. The first vessel was delivered in 2011 and the last in 2016.
Jiangsu Rongsheng Heavy Industries
The first Valemax vessels were ordered on 3 August 2008 when Vale signed a contract with the Chinese shipbuilder Jiangsu Rongsheng Heavy Industries (RSHI) for the construction of twelve 400,000-ton ore carriers. The development had reportedly started in 2007.China Set to Deliver Two Mega-ships to Vale. Caixin, 6 July 2012. The contract, worth $1.6 billion, was the world's biggest single shipbuilding contract by deadweight tonnage.Breaking News: DNV awarded class for the world's biggest shipbuilding contract ever! , Det Norske Veritas, 9 September 2008. Retrieved 5 September 2011China: RSHI Launches World's Most Advanced VLOC for Iron Ore Supplier Vale . Shipbuilding Tribune, 11 July 2011. Retrieved 5 September 2011
The first Chinese-built Valemax vessel, Vale China, was launched at the Nantong shipyard on 9 July 2011 and delivered on 25 November 2011.CHIA RONG : China Rongsheng Heavy Industries' 400,000 DWT Vloc Named and Launched – Lowers Cost for Vale and Forges Long-Term Cooperation, First Vlocs to be Delivered Soon. 4-traders.com, 10 July 2011. Retrieved 5 September 2011 Although it was expected that the first Chinese-built Valemax vessel would call a Chinese port on its maiden voyage,Vale gets 1st China-built mega iron ore carrier, market shudders. Reuters, 12 July 2011. Retrieved 14 November 2022 the ship was diverted to the new transshipment hub Vale had constructed in Philippines.With China shut, Vale iron-ore ships head to Philippines. Mining Weekly, 26 January 2012. Retrieved 4 February 2012
The second RSHI-built Valemax ship for Vale (Vale Dongjiakou) was delivered on 9 April 2012, the third (Vale Dalian) on 20 May, the fourth (Vale Hebei) on 28 September, the fifth (Vale Shandong) on 7 December 2012, the sixth (Vale Jiangsu) on 23 March 2013, the seventh (Vale Caofeidian) on 22 July 2013, the eighth (Vale Lianyungang) on 22 November 2013, the ninth (Ore Majishan; renamed before delivery) on 11 July 2014, the tenth (Ore Tianjin; renamed before delivery) on 18 October 2014, and the eleventh (Ore Rizhao; renamed before delivery) on 15 December 2014. The twelfth and last Valemax vessel of the original order by Vale, Ore Ningbo (renamed before delivery), was delivered on 23 January 2015.
On 2 November 2008, Oman Shipping Company signed a framework agreement with RSHI for the construction of four 400,000-ton vessels to transport iron ore from Brazil to the Port of Sohar in Oman, where Vale is expected to open a steel plant in near future.Sultanate and Brazil, Agreement to Lease four ships for Steel Ore . Oman Shipping Company News Press Releases, 2 November 2008. Retrieved 5 September 2011 The shipbuilding contract, worth US$483 million, was signed in July 2009.Jiangsu Rongsheng Signs US$483 Newbuild VLOC Deal With Oman Shipping . Business Monitor International, 13 July 2009. Retrieved 4 February 2012 Initially the ships were to be named Jazer, Yanqul, Al Kamil and Wafi,Fleet . Oman Shipping Company. Retrieved 5 September 2011 but instead they will be named Vale Liwa, Vale Sohar, Vale Shinas and Vale Saham. The steel cutting ceremony for the first two vessels was held on 8 July 2010 and they were launched on 19 March 2012.RSHI's 400,000 DWT VLOC Began Construction. Jiangsu Rongsheng Heavy Industries, 8 July 2010. Retrieved 4 February 2012. World Maritime News, 9 April 2012. Retrieved 9 April 2012 Vale Liwa entered service in August 2012, followed by Vale Sohar in September 2012, Vale Saham in January 2013, and Vale Shinas in March 2013. The ships reportedly received additional strengthening due to the Vale Beijing incident.. Marine News China, 29 April 2012. Retrieved 18 May 2012 The ships built for Oman Shipping Company were later removed from the Det Norske Veritas registry and moved to other classification societies such as American Bureau of Shipping and Lloyd's Register.
The Chinese shipbuilder's ability to deliver any of the very large ore carriers ordered by Vale in time was doubted already before the first ship was built.Delivery doubts plague Vale's VLOC newbuilds programme. Lloyd's List Asia, 30 June 2011. Retrieved 18 November 2011 In May 2011, it was announced that only two or three Valemax vessels will be delivered from the Chinese shipyard in 2011 instead of the planned six due to delays in construction.Rongsheng May Deliver Two Large Ore Ships in 2011, Six Fewer Than Planned. Eshiptrading.com, 26 May 2011. Retrieved 5 September 2011CH RONGSHENG (01101) 2011 delivery target: 2–3 vessels to VALE COMMON-DRS. AASTOCKS.com, 24 August 2011. Retrieved 18 November 2011 In the end, only one ship (Vale China) was delivered before the end of the year. Furthermore, later reports claimed that the ships ordered by Vale had a capacity of only 380,000 tons even though according to the Det Norske Veritas database entries all Chinese-built ships have a deadweight tonnage in excess of 400,000 tons and in the past Vale has referred to the ships ordered from Rongsheng as "400,000-ton" vessels. The reduction in cargo capacity, at least on paper, may have been due to the reluctance of Chinese officials to accept the 400,000-ton ships to Chinese ports.Vale's giant ore carriers go on a diet. Lloyd's List, 25 November 2011. Retrieved 29 November 2011
In April 2012, it was reported that Vale had refused delivery for three Valemax ships recently completed by Jiangsu Rongsheng Heavy Industries. This was seen as a move against the Chinese officials who have not allowed the 400,000-ton ships to dock in Chinese ports.Vale refuses delivery on Chinese ships. Maritime Bulletin, 20 April 2012. Retrieved 21 April 2012 However, the reports were rebutted by RSHI, who called them "inaccurate and unfounded".Rongsheng scorns VLOC reports. Tradewinds. (Registration required)
Daewoo Shipbuilding & Marine Engineering
On 26 October 2009, Vale ordered four Valemax vessels from the South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) for $460 million.DSME bags VLOC order. The Motor Ship, 28 October 2009. Retrieved 5 September 2011 Further three ships were ordered from DSME in July 2010, bringing the total order to seven 400,000-ton Valemax vessels.DSME wins order 3 VLOCs from Vale. Maritime Press, 25 June 2010. Retrieved 5 September 2011 Despite receiving the order later than the Chinese shipyard, DSME launched the first Valemax class ore carrier, Vale Brasil, on 31 December 2010 and delivered the ship to Vale in March 2011.
Vale Brasil was followed by Vale Rio de Janeiro on 22 September 2011, Vale Italia on 25 October 2011, Vale Malaysia on 27 March 2012, Vale Carajas on 29 May 2012, and Vale Minas Gerais on 13 July 2012. The last Valemax ship to be built by DSME, Vale Korea, was delivered on 9 April 2013.
STX Offshore & Shipbuilding
In addition to the ships Vale ordered for itself, more ships of similar size were to be built for other shipping companies and chartered to Vale under exclusive long-term contracts. Eight very large ore carriers were ordered from the South Korean shipbuilder STX Offshore & Shipbuilding in Jinhae, South Korea (STX Jinhae), and Dalian, China (STX Dalian). The shipping company, STX Pan Ocean, signed a 25-year contract with Vale in 2009.STX Pan Ocean in pact with Vale to ship iron ore. Resource Investor, 21 September 2009. Retrieved 4 September 2011 The deadweight tonnage of the Valemax vessels built by STX, 374,400 tons, is slightly smaller than that of the similar ships built by DSME and RSHI.Vale iron-ore ship built in Korea is smaller than first planned. The Business Times, 28 November 2011. Retrieved 29 November 2011
The first STX-built Valemax vessel, Vale Beijing, was delivered by STX Jinhae on 27 September 2011. Although another vessel was expected to take delivery later that year, only one ship was delivered. The second ship, Vale Qingdao, was delivered also by STX Jinhae on 13 April 2012, but the third and fourth ships, Vale Espirito Santo and Vale Indonesia, were built by STX Dalian and delivered on 17 September 2012 and 30 October 2012, respectively.Delivering World's Largest VLOC and Best-performing Drillship in A Row. STX Mobile, 26 July 2012. The fifth ship, Vale Fujiyama, was again built by STX Jinhae and delivered on 26 November 2012. The sixth ship, Vale Tubarao, was delivered by STX Dalian on 30 January 2013. While both of the two remaining ships were supposed to be delivered by the end of 2013, only Vale Maranhao entered service on 29 August.STX acquires world-largest VLOC. Maritime Press, 28 September 2011. Retrieved 3 October 2011
The last Valemax vessel to be built by STX, originally named Vale Ponta da Madeira but later referred to by its yard number "STX Dalian 1707", was launched sometime in 2015. However, the vessel was never finished and instead was listed as "for sale" in an unfinished state. In March 2016, it was reported that the last of the original 35 Valemax vessels to be built had been sold for just $16.8 million.Unfinished STX Dalian valemax sells for just $16.8m. Splash 24/7, 10 March 2016. Initially anonymous, the buyer was later identified as Pan Ocean (formerly STX Pan Ocean), the shipping company who originally ordered the vessel.Pan Ocean acquires unfinished valemax for $17m. Lloyd's List, 11 March 2016. The unfinished vessel was completed by the Chinese shipyard Shanhaiguan Shipbuilding and named Sea Ponta da Madeira.Shanhaiguan Shipbuilding to complete unfinished STX Dalian valemax. Splash 24/7, 29 April 2016.
Bohai Shipbuilding Heavy Industry
On 30 April 2007 Berge Bulk signed a contract with the Chinese shipbuilding company Bohai Shipbuilding Heavy Industry for the construction of four 388,000-ton very large ore carriers. Although initially scheduled for delivery in 2010, the first vessel, Berge Everest, was delivered on 23 September 2011. It was followed by Berge Aconcagua on 15 March 2012 and Berge Jaya on 12 June 2012. The remaining ship, Berge Neblina, was initially also scheduled to be delivered in 2012, but entered service on 4 January 2013.China Bohai Shipbuilding to soon deliver 1st mega dry bulk ship. Reuters, 20 July 2011. Retrieved 10 December 2011