The biggest Iron ore company,Vale recently has ordered 3 VLOCs to Daewoo Shipbuilding and Marine Engineering Co., Ltd(DSME).

According to the latest Shipbuilding Market report, Vale has ordered four 400K dwt VLOCs with conditions to be delivered in the first half of 2013.

Actual ship price is not released, but Shipbuilding Brokers estimate that vale paid minimum US$1165 billion per ship to the DSME.

On last OCT, Vale also ordered four 400K dwt VLOCs to DSME price of US$ 1150 billion per ship with Conditions to be delivered between second half of 2011 and 2012. Including recent new ship order, Vale has ordered total 7 VLOCs to DSME.

Vale set the strategies to secure total 20 owned VLOCs, therefore they are continuing to expand their VLOC fleet through new shipbuilding order, purchasing of second-hand ship and conversion of single-hull VLCC.