Winning International Group, a company based in Singapore specialising in capesize vessels, has recently ordered at the CSSC yard Qingdao Beihai Shipbuilding in China to construct two huge ore carriers (VLOCs). These VLOCs are intended to support the company's seaborne trade route from West Africa to China.
These newly commissioned vessels, known as WinningMax, will have a capacity of 325,000 deadweight tonnes. They will be certified by the China Classification Society and DNV, measure approximately 330 meters in length, be equipped for methanol storage with 12,000 cubic meters of fuel storage tanks, boast a speed of 13.9 knots, and meet the requirements of EEDI Phase 3. Compared to traditional capesize vessels, the WinningMax is anticipated to reduce energy consumption per tonne by nearly 50 per cent. However, specific details regarding these vessels' cost and delivery schedules have not been disclosed.
Winning International Group is a prominent player in the bulk carrier industry in Singapore, boasting a fleet of over 40 vessels. It currently holds the position of the world's leading bauxite shipping company, primarily focusing on bauxite development in Guinea, with an annual shipment exceeding 50 million tonnes.
According to BIMCO, the world's largest shipping organisation, global seaborne minor ore exports experienced a 7 per cent year-on-year increase during the first seven months of 2023, driven by a sustained surge in demand from China. Among these exports, bauxite, the sole minor ore transported by capesize vessels and an essential mineral for aluminium production, led the way with a 9 per cent year-to-date growth, accounting for 51 per cent of the overall increase.
The escalation in Chinese aluminium production, primarily attributed to the Ukraine conflict, has led to China receiving nearly 80 per cent of all seaborne bauxite exports. With the Indonesian export ban implemented in June, Guinean bauxite exports have progressively filled the gap, experiencing a 26 per cent year-on-year increase in July.
Filipe Gouveia, a shipping analyst at BIMCO, pointed out, "Capesize bulk carriers have benefited from an increase in bauxite shipments and now account for 11 per cent of capesize demand. Additionally, sailing distances for bauxite shipments are 71 per cent longer than the average capesize route."
Winning International Group is also actively involved in the Simandou iron ore project in southeastern Guinea's Simandou mountain range. This project holds one of the world's largest untapped high-grade iron ore deposits.
The northern section of the mining area falls under the ownership of Winning Consortium Simandou (WCS), led by Winning, while the southern portion of the project is owned by Simfer, led by Anglo-Australian mining giant Rio Tinto. Last year, WCS and Rio Tinto Simfer agreed to initiate the construction of a 650-kilometer railway, a deepwater port, and other essential infrastructure to support mining operations. Production is slated to commence by 2025.
The company stated, "Winning International Group will expand its VLOC fleet in the future to oversee the ocean transportation of bauxite and iron ore in Guinea and will continue to invest in eco-friendly fleets to achieve its core strategic objective of sustainable development."
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