Vale’s Valemax Ships Regain Admittance to Asian Ports

Reuters.com
Monday, April 29, 2013

Vale SA of Brazil said it has increased access of its Valemax iron ore carriers to Asian ports. The company even docked one of its ships in China where a ban on the giant vessels has been in effect for more than a year, Reuters.com reported.

Reuters reported on April 18 that the Vale Malaysia docked at China's port of Lianyungang April 15 and left April 17 after unloading its cargo, but the 402,285 deadweight ton (dwt) ship, one of the world's largest bulk freighters, was only partly loaded.

The company hopes the giant ships will help slash costs of shipping ore to China, the world's largest iron ore market and compete with Australian rivals BHP Billiton Plc and Rio Tinto Plc, whose mines are closer to Chinese customers.

Though most of the vessels were built in China with Chinese government finance, alleged safety concerns led China to ban the Brazilian miner's mega ships in early 2012 after a Korean-built Valemax developed a hull crack on its maiden voyage, Reters said. The ban also aimed to protect China's industry against an overabundance of vessels that stifled global shipping rates. Under the ban, no bulk cargo vessels of more than 300,000-dwt have clearance for Chinese ports.

The 35 Valemax vessels afloat or under construction -- the last is scheduled for delivery this year -- can reduce transport costs by up to a third and produce far fewer greenhouse gasses. Vale owns part of the fleet and has given third-party owners long-term contracts to ship ore with the rest.

In April, Vale opened a second floating iron ore distribution station in the Philippines to keep the Valemax ships working despite the Chinese ban and to make sure Valemax ore can move to ports that are not deep enough or properly equipped to handle them. The floating bulk freighters with ore-moving equipment have the capability to transship ore from the Valemaxes to smaller vessels for the final trip to Asian ports.

Vale is also working to open new ports to Valemax ships in Japan and Korea.

www.reuters.com
 

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

A Year is a Long Time in Tankers

The latest Gibson Market Report focused on the age profile of the VLCC fleet and the prospects for trading life beyond 15 years of age.    Analysis of the Suezmax fleet shows a similar picture,

Diana Charters Out Two Bulkers

Diana Shipping Inc. today announced that, through a separate wholly-owned subsidiary, it entered into a time charter contract with Bunge S.A., Geneva, for one of its Panamax dry bulk vessels,

Higher Capesize Demand Pushes up Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday buoyed by higher demand for capesize vessels.

Ports

Long Beach Port Maintains Strong Bond Rating

Fitch Ratings, one of the top three U.S. credit analysis agencies, has affirmed the Port of Long Beach’s “AA” rating on its outstanding debt. Fitch stated the AA rating — its highest for U.

Portugal PM Warns Lisbon Dock Workers to End Strike

Portugal's prime minister warned Lisbon dock workers on Friday that his patience was running out after a strike that has lasted a month, paralysing the city's ports.

Gender Identity Spat Sinks Spending Bill

The rancorous political debate over sexual identity unexpectedly prompted the Republican-controlled House of Representatives to rejected an energy and water spending

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pod Propulsion Salvage Ship Repair Shipbuilding / Vessel Construction Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0707 sec (14 req/sec)