Polaris Shipping Books Two Bulkers for Vale

According to Clarksons Platou Shipbroking, South Korean shipping company Polaris Shipping has placed an order for two Newcastlemaxes at New Times Shipyard in China .Clarksons hinted that further Korean owners are expected to place similar orders in the coming weeks. 

The scrubber-fitted ships feature IMO Tier III compliant diesel engines and are expected for delivery by the end of 2020 when they will start five-year period time charter to Brazilian mining giant Vale. The company has options for two additional ships.
Last year Vale announced charter deals for up to 30 Valemax newbuilds with seven different companies, including Polaris Shipping, Korea Line Corporation, H Line Shipping, and SK Shipping. To that end, in September 2017, Polaris Shipping ordered ten very large ore carriers (VLOCs) from Hyundai Heavy Industries.
Dec 18, 2018
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