Converted VLOCs will soon be a distant memory
Once Vale eliminates its COAs, then converted very large ore carriers will soon be a distant memory, according to shipping association BIMCO. It sees 20 such vessels actively trading in the fleet as of end-April, from 51 in 2017.
The fleet exit will have a limited impact on the overall capesize market, which has seen tonnage grow more than demand to transport iron ore
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