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

Bulk Carrier Trends

Baltic Index Rises on Increased Demand Across Segments

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday on higher demand across all vessel segments.

Demand, Bunker Pricing Spurs Asia Dry Bulk-Capesize Rates

Owners asking $1 per tonne more on Australia-China rates; Panamax rates climb to two-month high, but remain under pressure. Freight rates for large capesize

Star Bulk Carriers Reports 1Q Loss, Adds 3 Vessels.

The Athens, Greece-based Star Bulk Carriers Corp. (SBLK) has reported a loss of $48.8 million in its first quarter. The shipping company posted revenue of $46.

Ports

Xeneta: No Silver Lining for Container Shipping in Brexit Storm

Xeneta, a  global benchmarking and market intelligence platform for containerized ocean freight, believes that the UK’s decision to leave the European Union will

Mersey Maritime: Small Business at Heart of Isle of Man Partnership

UK Industry trade body Mersey Maritime has announced a new trade agreement with the Isle of Man Shipping Association (IOMSA) which aims to supercharge bilateral trade,

Beijing Slams South China Sea Court Proceedings

Permanent Court of Arbitration ruling set for July 12. An international court said it would deliver a hotly anticipated ruling in the Philippines' case against

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Offshore Oil Port Authority Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
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: 0.0692 sec (14 req/sec)