Analyst Barclays said troubled Rongsheng could benefit in particular from any potential relaxing of the Chinese ban on the Brazilian miner’s Valemax bulkers in the wake of the deal.
Vale is to charter 10 new VLOCs from Cosco in an agreement worth up to $1.4bn for whichever yards win the business.
Rongsheng, STX Dalian and Bohai already have Valemaxes on their orderbooks, but Shanghai Waigaoqiao, Guangzhou Longxue, Qingdao Beihai and the Cosco/Kawasaki venture Nacks have all been nominated for the latest design by design house SDARI.
