Three South Korean shipping companies are making enquiries at Chinese shipyards about another round of VLOC orders to fulfil contracts with Brazilian miner Vale.

Shipbuilding sources said that South Korean investment company Kukje Maritime Investment Corp (Kmarin), shipowner H-Line and conglomerate Daelim Corp have contacted shipyards for 325,000-dwt ore carrier newbuildings to be delivered in 2020.

The potential orders are on the back of long-term contracts-of-affreightment from Vale, which has been expanding its VLOC fleet through such deals.