Vale winds down the use of converted VLOCs December 15, 2020, by Jasmina Ovcina
The Brazilian mining giant Vale has discharged its last cargo in China transported on a converted Very Large Crude Carrier (VLOC), the company said. The move follows Vale’s new risk management approach, made in January 2020, when the company decided to phase-out or substitute all 25 converted vessels engaged in its cargo transportation, either through early termination or amendment of contracts.
The decision came on the back of numerous technical and structural flaws on the ships causing multiple incidents, which culminated in the grounding and tilting of Stellar Banner back in February.