Article – Vale's mega iron-ore carriers to reach Malaysia in March

27 February 2014
Sheharyar Khan
SNL Metals & Mining Daily: West Edition
Vale SA is expected to make the first delivery of iron ore in a Valemax carrier to Malaysia in March, a move that will help bring Vale’s ore closer to the Chinese market, Reuters reported Feb. 25.
Most recently, China’s Transport Ministry issued rulings stipulating that vessels docking at Chinese ports should not be carrying loads greater than 250,000 deadweight tons. The development spelled trouble for the Valemax carriers which can carry up to 400,000 deadweight tons.
The Chinese transport ministry implemented the new rule in response to extensive lobbying by China Ocean Shipping Group, also known as COSCO, and other shipowners which pointed to safety concerns and called Vale’s mega-carriers “a matter of monopoly and unfair competition.”   Vale’s shipment in March will go to a storage and distribution center in Malaysia, improving the company’s shipping costs and access to China, and better placing Vale against competitors Rio Tinto and BHP Billiton.
Full report here.
Courtesy of SNL Metals & Mining Daily: West Edition

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