Vale is targeting newcastlemax newbuildings for long-term charters, which would mark a first for the company.
The Brazilian mining giant is said to be seeking to charter up to four 210,000-dwt bulkers backed by long-term contracts of affreightment (COAs).
Bulk carriers are getting bigger and there is a growing trend that charterers are booking newcastlemaxes
One shipbuilding market expert said this is the first time Vale has looked to charter newcastlemax newbuildings for long-term COAs.
