Fortescue names vessels after family

Fortescue Metals Group has recognised the family of chairman Andrew Forrest by naming four new very large ore carrier (VLOC) vessels after his wife and children.

At a ceremony in China today, Fortescue unveiled the first of the eight VLOCs to be constructed was FMG Nicola after Mr Forrest’s wife, and would soon depart for its inaugural voyage from Jiangsu’s Yangzijiang shipyard to Fortescue’s Herb Elliot Port in Port Hedland.

Three of the other seven vessels have also been named, with FMG Grace, FMG Sophia and FMG Sydney named after Mr and Mrs Forrest’s two daughters and son.

The vessel fleet will complement the iron ore giant’s port infrastructure to improve load rates, efficiencies and reduce operating costs.

At peak operation, the VLOCs will provide 12 per cent of Fortescue’s shipping requirements.

The final vessel is due to be delivered in mid-2018.