Vale has signed a 25-year contract of affreightment (COA) with Shandong Shipping for two Guaibamax-class Very Large Ore Carriers (VLOCs) capable of using ethanol, methanol, and marine fuel oil. Announced on 9 Apr 2026, the vessels will be built by Qingdao Beihai Shipbuilding with CSSC Power developing the main engines, and are scheduled to enter service in 2029. The ships, 340 meters long with a deadweight tonnage of 325,000 tons, adopt the second-generation Guaibamax design and support LNG or ammonia retrofits. Equipped with five rotor sails and various energy-saving technologies, they aim to reduce greenhouse gas emissions by 15% compared to existing vessels. Vale holds options for up to 10 ships under this multi-fuel strategy.