NS United joined Valemax project

Japanese shipowner and operator NS United which is the shipping arm of steel giant Nippon Steel Sumitomo Metals, will dedicate a 400K DWT NB Valemaxes to Vale Iron Ore Project. Brazilian gigantic miner Vale expands its controversial Valemax project. This would be the first ever Japanese built Valemax on 25 year contract project. Japan Marine United (JMU) is going to build and deliver the eco ship valemax in 2019. Valemax ships are adding to overcapacity in the currently suffering dry bulk market and Valemax fleet is enough to monopolise the iron ore trades between Brazil and China. Nippon Steel Terminal draught restrictions meant that Valemaxes could not trade to its terminal fully laden between Brazil and Japan.