FMG launches first ore carrier

Fortescue Metals Group chairman Andrew Forrest has named the first of the miner’s new very large ore carriers (VLOCs) after his wife, Nicola.

The FMG Nicola was christened at a shipyard in China this week, with Fortescure chief executive Nev Power saying the formal launch of the first vessel was the culmination of a lot of hard work from FMG.

“The VLOC fleet is a natural extension of our supply chain and will play a significant role in increasing efficiencies at our port and lowering costs,” Power said.

“They also reflect and strengthen Fortescue’s close relationships in China, our largest market.”

FMG Nicola was launched from Yangzikiang Shipyard, with a further three VLOCs, FMG Grace, FMG Sophia and FMG Sydney to be launched there in the future. Another four VLOCs have been ordered from the Guangzhou Shipyard.

All eight VLOCs are set to be in service by mid-2018.

“Our partnerships with both Yangzijiang Shipyard and Guangzhou Shipyard International, and the financing transaction with CDB Leasing are great examples of Fortescue’s strong collaboration with China,” Power said.

“We value these relationships very highly and look forward to continued success as we work together on initiatives for our mutual benefit.”