Timing of surveys is key to disposal programme

The timing of mandatory renewal surveys is likely to determine how quickly Vale disposes of its fleet of converted very large ore carriers (VLOCs).

Vale is required to fit a costly ballast water treatment system at the next statutory dry-docking survey, something it is unlikely to do with replacement newbuildings on the way.

Five of the 18 vessels in the Stellar series of Polaris-converted VLOCs are due for renewal surveys before 2020, according to port state control database Equasis, making them most likely to be decommissioned first. These are the 278,200-dwt Stellar Eagle, 263,000-dwt Stellar Galaxy and 279,300-dwt Stellar Unicorn (all built 1993) and the 295,520-dwt Stellar Hermes and 267,000-dwt Stellar Journey (both built 1994).

Equasis lists the 261,300-dwt Stellar Cosmo (built 1992), which is at anchor at the Malaysian lay-up site of Labuan, as having its classification withdrawn by the Korean Register for an overdue survey.

The remaining Stellar series of VLOC conversions are due for renewal in 2020 and 2021.