15 Desember 2011

[151211.EN.SEA] STX-Vale Mega-Vessel Takes On Water After Cracking Hull, O Globo Reports


The Vale Beijing, one of the world’s largest commodity vessels, cracked its hull and is taking on water at a port in Brazil, the O Globo newspaper said, citing people it didn’t identify.

Workers have begun pumping water off the 400,000 deadweight ton ship at Ponta da Madeira, northeastern Brazil, the Portuguese-language publication said on its website. The Secretaria Nacional de Portos confirmed there was an issue with the ship, without elaborating, the report said. Vale SA (VALE3) said there was a problem with a rented ship and referred questions to operator STX Pan Ocean Co., O Globo said.

A spokesman for STX Pan Ocean said he wasn’t immediately able to comment, when called by Bloomberg News, as the Seoul- based company was seeking more details from Brazil. Calls to Vale in Rio de Janeiro and the Secretaria Nacional de Portos in Brasilia were unanswered outside regular office hours.

The ship, almost as big as the Bank of America Tower in New York, was delivered to STX Pan Ocean (STX) on Sept. 27 by affiliate STX Offshore & Shipbuilding Co. The vessel is part of a fleet of 35 that Vale, the world’s biggest iron-ore miner, is building up to gain control of shipments.

STX Pan Ocean will operate a total of eight of the mega- ships under a $5.8 billion, 25-year deal.

Source : Bloomberg, 05.12.11.

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