STX Pan Ocean orders eight VLOCs at sister yard

The 400,000-dwt ships are widely understood to be tied to the $5.84bn consecutive voyage contract signed between STX Pan Ocean and Brazilian miner Vale last month, writes China shipping. Brokers say five of the units are due in 2012 and three are to be delivered the following year.
The total contact value remains undisclosed.
Vale is reported to be in the process securing 20 massive bulkers on long-term contracts of affreightment, including the 25-year contract with STX Pan Ocean.
The VLOC octet adds to STX Pan Oceans fleet of 71 owned and 234 chartered-in bulkers, containerships and car carriers.