[TodayIR] CH RONGSHENG: China Rongsheng Heavy Industries
[TodayIR] CH RONGSHENG: China Rongsheng Heavy Industries Delivered The Twelfth 380,000 DWT Class VLOC (24 November 2013, Hong Kong) – China Rongsheng Heavy Industries Group Holdings Limited (“China Rongsheng Heavy Industries” or the “Group”; stock code: 01101.HK), a large heavy industries group in China, is pleased to announce the delivery of its 380,000 DWT class Very Large Ore Carrier (“VLOC”) “VALE LIANYUNGANG” to Vale S.A. (“Vale”) recently. The vessel is the twelfth 380,000 DWT class VLOC delivered by the Group since its inception, and is the Group’s fifth delivery of VLOCs this year. Vale is an important strategic partner of China Rongsheng Heavy Industries. The Group has formed a close and seamless partnership with Vale, and the Brazilian mining giant is a reputable firm with a strong track record in risk management. Among the 16 380,000 DWT class VLOCs orders secured by the Group, all 4 VLOCs orders from Oman Shipping Company S.A.O.C. have already been delivered. Only 4 more 380,000 DWT class VLOCs are still pending deliveries. The 380,000 DWT class VLOC built by China Rongsheng measures 360 meters in length, 65 meters in breadth and 30.4 meters in depth, and is currently the world’s largest VLOC. The self-developed and high-tech vessel type represents the most advanced technology of VLOCs in the world. It adopts an environmentally friendly design focusing on lowering fuel consumption and reducing CO2 emission, while its operating efficiency exceeds most existing ore carriers. With Energy Efficiency Design Index (“EEDI”) recorded at approximately 1.99 during sea trials, Rongsheng-built VLOCs are in line with low-carbon green product initiative and meets the benchmark requirements on emission reduction set by International Maritime Organization (“IMO”), which came into effect as of 1 January 2013.