The world’s fourth largest iron ore miner has placed the order for the 260,000-dwt vessels in a bid to reduce its shipping costs.
Nev Power, chief executive of FMG, said in a statement: “We are already in the shipping business, with an annual forecast spend of around $1.5bn a year.
“These vessels are a natural extension of our supply chain and will play a significant role in increasing efficiencies at the Port and lowering costs.
