ICBC Financial ordered 10 Valemax bulk carriers

Chinese state owned ICBC Financial Leasing order of 10 Valemaxes is on track even though  without any COA (Contract of Affreightment) in hand. China Cosco Shipping and China Merchants Energy Shipping (CMES) both announced the long awaited signing of 27-year contracts with Vale Brazil. These long-term exclusive contracts is behind the orders of 30 Valemax bulk carriers 400K DWT.