Vale Plans to Double Iron Ore Exports to China

Posted by Eric Haun
Thursday, August 07, 2014
Photo: Vale

Brazilian mining company Vale SA plans to double its iron ore exports to China within five years, Jose Carlos Martins, the company's head of ferrous metals, told reporters on Thursday.

Rio de Janeiro-based Vale is the largest producer and exporter of iron ore, the main ingredient needed to make steel.

Martins also said the company plans to export about 400 million tonnes of iron ore a year within five years, nearly 50 percent more than the 270 million tonnes it exported in 2013.

Vale is considering the purchase or hiring of new ships to transport the new volumes of iron ore to China, Martins said.

Vale preferred shares, the company's most-traded class of stock, fell 0.9 percent to 28.15 reais in late-afternoon trading on Thursday in Sao Paulo.

(Reporting by Marta Nogueira; Writing by Jeb Blount; Editing by Peter Galloway and Meredith Mazzilli)

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Bulk Carrier Runs Aground in Delaware River (Link to Video)

Coast Guard Sector Delaware Bay is investigating a ship aground in the Delaware River near the Burlington Bristol Bridge, which connects Burlington, NJ and Bristol Township, PA.

ABS CEO Lays Out Vision for Technical Leadership at CMA Shipping

During the recent CMA Shipping 2015 conference in Stamford, Connecticut, ABS Chairman and CEO Christopher J. Wiernicki provided the conference's keynote address

Baltic Sea Freight Index Down on Lower Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday, pulled down by a fall in rates across all vessel segments.

News

Bulk Carrier Runs Aground in Delaware River (Link to Video)

Coast Guard Sector Delaware Bay is investigating a ship aground in the Delaware River near the Burlington Bristol Bridge, which connects Burlington, NJ and Bristol Township, PA.

Largest All-Electric Pipe Bender Starts Operations at Newport News Shipbuilding

Unison has commissioned what is believed to be the largest all-electric tube bending machine ever produced. The machine has started operations at Newport News Shipbuilding,

Oceanex Named One of Canada’s Best Managed Companies

Oceanex Inc. was named one of Canada’s Best Managed Companies Gold Standard Members in 2014. This national award is sponsored by Deloitte, CIBC, National Post,

Logistics

Oceanex Named One of Canada’s Best Managed Companies

Oceanex Inc. was named one of Canada’s Best Managed Companies Gold Standard Members in 2014. This national award is sponsored by Deloitte, CIBC, National Post,

Hapag-Lloyd Improves Safety of Dangerous Goods Transportation

Last year, Hapag-Lloyd discovered 2,620 cases of incorrectly declared dangerous goods that were prevented from being shipped. Dangerous goods experts at Hapag-Lloyd investigated over 162,

Baltic Sea Freight Index Down on Lower Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday, pulled down by a fall in rates across all vessel segments.

 
 
Naval Architecture Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1815 sec (6 req/sec)