IMO ENVIRONMENTAL REGULATIONS
Are IMO regulations tough enough to keep national governments from imposing stricter measures?

Yes--Mostly
Only partly
No--expect a slew of regional regs!

Marine Log

July 11, 2007

COSCO to convert VLCC's to ore carriers

China's COSCO Shipyard Group has secured VLCC (Very Large Crude Carrier) to VLOC (Very Large Ore Carrier) conversion contracts involving ten ships.

It has also won an order for eight 57,000 dwt bulk carriers.

Together, the conversions and the bulker contracts are worth $563 million of which $250 million is for the conversions and $313 million for the newbuilds. The orders have been placed by what COSCO describes as "several international customers."

Contract ($ million) Commencing
3 VLCC conversions $75 Jul. 07, Sept. 07, Jan. 08
3 VLCC conversions $75 Sept. 07, Mar. 08
3 VLCC conversions $75 Aug., Oct., Nov. 07
1 VLCC conversion $25 Dec. 07
8 bulk carrier newbuildings $313 Aug. 07

The projects will be carried out at COSCO's Zhoushan, Dalian and Nantong shipyards.

Each VLCC conversion is expected to take approximately 160-180 days to complete and progressive deliveries are expected by the third quarter of next year.

The eight bulk carriers are targeted for progressive deliveries from May 2009 to March 2010.

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