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Vale Sa As News

17 Jan 2022

Vale, Other Brazil Miners Ramp Up Production as Rains Subside

© A.Paes / Adobe Stock

Brazilian miners including Vale SA are resuming production in the southeastern state of Minas Gerais after being forced to halt some operations due to heavy rains that increased the risk of accidents and caused logistics disruptions.Vale said in a securities filing on Monday that the Brucutu and Mariana mines are gradually ramping up production as part of its Vitoria-Minas railway was cleared, allowing the iron ore to be moved.According to Vale, the stoppages affected production of about 1.5 million tonnes of iron ore.

11 Jan 2022

Dry Bulk: Heavy Rains Disrupt Shipping in Southeast Brazil

© Caio / Adobe Stock

Heavy rainfall in southeastern Brazil has prompted miners including Vale SA to suspend some operations, they said on Monday, after downpours caused deadly floods in the northeast and threatened to delay harvests in the midwest.Rainfall is expected to remain heavy this week in most of top mining state Minas Gerais, after runoff closed roads and railways.The rains may also have contributed to the dramatic collapse of a canyon rock face in the state on Saturday, killing 10 people visiting a waterfall on boats.In the northeastern state of Bahia…

19 Jun 2020

Chinese Demand Lifts Baltic Index to Record Weekly Gain

© masterskuz55 / Adobe Stock

The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry commodities around the world, posted its biggest weekly gain ever, underpinned by a rebound in global commodities trading as iron ore demand from China picked up.The 35-year old index, which reflects rates for capesize, panamax and supramax ships, has now surged nearly 300% since tumbling to a low of 393 points in May following a freeze in global trade due to coronavirus-led lockdowns."Most…

07 May 2020

China's Iron Ore Imports Jump in April

© masterskuz55 / Adobe Stock

China's iron ore imports in April rose 11.4% from a month earlier on robust demand from steelmakers, as downstream sectors started to emerge from lockdowns to contain the coronavirus epidemic.Arrivals of the steelmaking ingredient were 95.71 million tonnes last month, data released on Thursday by the General Administration of Customs showed.That compares with imports of 85.91 million tonnes in March and 80.77 million tonnes a year earlier, when shipments from Brazil's top miner Vale SA were disrupted after a tailings dam disaster.In the first four months of 2020…

19 Mar 2020

China Iron Ore Recoups Losses Amid Stimulus Hopes

© martinfredy/AdobeStock

 China's iron ore futures erased earlier losses to end flat on Thursday, regaining support as miner Vale SA said it may temporarily halt activities at its Malaysian distribution center as a safety measure against the coronavirus pandemic.Iron ore's most-traded contract on the Dalian Commodity Exchange steadied at 678 yuan ($95.76) a tonne, after tumbling 5.8% earlier in the session.On the Singapore Exchange, the front-month iron ore contract trimmed losses to just 0.3% in afternoon trade from 4.1% earlier in the day.Iron ore supplier Vale said on Wednesday its Malaysian distribution center may

24 Jul 2019

Baltic Index Falls on Sliding Capesize Rates

file image (Port of Portland, UK)

The Baltic Exchange's main sea freight index fell for a second straight session on Wednesday to its biggest one-day decline in nearly six months, as rates for capesize vessels fell after a strong run.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 7%, or 151 points, to 2,014 points, its biggest one-day drop since January 31. The index has still more than tripled since February, mainly driven by strong demand for vessels that ship iron ore from…

18 Jul 2019

Baltic Index at 5-1/2-year High on Iron Ore Demand

AdobeStock / © Lidian Neeleman

The Baltic Exchange's main sea freight index rose on Thursday to its highest since December 2013, driven by demand for vessels shipping iron ore in the Atlantic, pushing capesize and panamax indices to multi-year highs.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 3.2%, or 66 points, to 2,130, its highest since mid-December, 2013. The index has surged about 68% so far this year. The index extended gains for an eighth straight session, mainly…

17 Jul 2019

Baltic Index Propelled Again by Capesize, Panamax Demand

A coal bulker underway. File Image: K Line

The Baltic Exchange's main sea freight index rose on Wednesday, driven by demand for capesize and panamax vessels.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 2.6%, or 53 points, to 2,064, its highest since January 2014. The index has surged about 60% this year. The index extended gains for a seventh straight session, mainly driven by strong demand for vessels that ship iron ore from Brazil.A restart of Vale SA's Brucutu mine in Brazil that was shut in early February after a tailings dam burst…

15 Jul 2019

Baltic Index at 5-1/2 Year Peak as Capesize Demand Soars

file Image: CREDIT AdobeStock / © Lucasz Z

The Baltic Exchange's main sea freight index hit a five-and-a-half-year high on Monday on the back of strong demand for capesize vessels shipping iron ore.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 3.4%, or 63 points, to 1,928, its highest since January 2014. The index has tripled since February. The index rose 7.2% last week for a fourth straight week, mainly driven by strong demand for vessels that ship iron ore from Brazil.A restart of Vale SA's Brucutu mine in Brazil in June…

12 Jul 2019

Baltic Index hits Highest Level since 2014

file Image: AdobeStock / © Leonid Eremeychuk

The Baltic Exchange's main sea freight index hit a five-and-a-half-year high on Friday, boosted by stronger demand and tight spot tonnage in the Atlantic region.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 2.7%, or 49 points, to 1,865, its highest since January 2014. The index has tripled since February. The index rose 7.2% this week, to post its fourth straight week of gains, mainly driven by strong demand for vessels that ship iron ore from Brazil.The capesize index rose 125 points, or 3.7%, to 3,541 points, its highest since Aug. 15, 2018.

05 Jul 2019

Baltic Soars on Surging Iron-Ore Demand

AdobeStock / © Lucasz Z

The Baltic Exchange's main sea freight index rose more than 2 percent on Friday, its best week in nearly five years, mainly fuelled by strong demand for vessels that ship iron ore from Brazil.The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 40 points, or 2.4%, to 1,740 points, its highest since early August last year.The main index has risen 28% this week, its best week since week-ending Aug. 15, 2014. The index, which reflects rates for capesize…

08 May 2019

China Iron Ore Imports Fall, Brazil Shipments Slide

© corepics / Adobe Stock

China's iron ore imports in April fell to the lowest level in 18 months as poor weather in Brazil, the country's second-biggest supplier, disrupted shipments and some production by miner Vale SA was halted after a mine accident.Arrivals of iron ore, a key steelmaking raw material, were 80.77 million tonnes last month, the lowest since October 2017, data from the General Administration of Customs showed on Wednesday. That compares to 86.42 million tonnes in March and 82.92 million tonnes in April 2018.For the first four months of 2019…

05 Jul 2018

Fall from Grace: Batista Gets 30-Years for Corruption

Eike Batista, the former mining and oil magnate who was once Brazil's richest man, was convicted and sentenced to 30 years in prison for bribing Rio de Janeiro state's disgraced ex-governor, according to a court document published on Tuesday.Batista's conviction and sentencing by federal judge Marcelo Bretas are the latest in a wave of graft investigations that have sent scores of powerful businessmen and politicians to jail.The eccentric former billionaire's meteoric rise and fall mirrored the recent fortunes of Brazil, where the commodities boom faded as his energy, mineral and logistics empire fell apart earlier this decade.His swashbuckling attitude and confident forecasts of a prolonged golden era for Brazil evaporated just as Latin America's largest economy suffered its worst recessi

26 Mar 2018

Huge Ore Carrier Delivered to Vale

Shandong-based Qingdao Beihai Shipbuilding Heavy Industry Co, a subsidiary of Wuchang Shipbuilding Industry Group Co, delivered a very large ore carrier (VLOC) to Brazilian miner Vale SA, said Chinese state media. China Daily said that the ship, named Ore Tianjin, has 400,000 metric tons' carrying capacity and is the first VLOC the group has made for Industrial and Commercial Bank of China Leasing. Aiming to reduce the shipping cost by increasing capacity and enhance the operator's global competitive edge, the ship has a loading capacity equivalent to 6,666 regular freight train cabins, it said. The vessel uses 20 percent less fuel than first-generation VLOCs, slashes transport costs for iron ore by 30 percent and can be loaded much quicker than its predecessors.

03 Nov 2017

Grain Trade Boosts Brazil's Itaqui Port

Brazil's Itaqui port, the country's closest deepwater gateway to the Panama Canal, has projected a rise in 2017 shipping volumes thanks to a record grain harvest and development of a new northern farming frontier. Most of Itaqui's export cargo arrives by train instead of roads. It is the deepest public port in Brazil, and its travel time to Europe and North America is seven days shorter than from rivals in the South. Itaqui can handle minerals, grains, fertilizers, fuel and woodpulp consignments. Until recently, it was strategic to oil company Petroleo Brasileiro, which accessed its deepwater berth to import fuel in large vessels. With a change in Petrobras' strategy causing its fuel transshipment activity to fall to almost zero…

24 Oct 2017

Hyundai Heavy Signed $400 Million Order to Build 5 VLOCs

South Korea’s Hyundai Heavy Industries (HHI) has clinched a deal worth approximately US$400 million to build five very large ore carriers(VLOCs) from Seoul-based shipper Polaris Shipping. "HHI has signed a $400 Million worth contract to build five 325,000 dwt VLOCs (Very Large Ore Carrier) with Polaris Shipping. It is the option exercised following the contract of ten same class VLOCs with Polaris Shipping on September 25," said a company statement. HHI Group’s shipbuilding affiliates have so far this year won new orders of 110 ships worth $ 6.7 billion, 90% of the $ 7.5 billion annual target. According to Pulse News, Polaris Shipping upon placing an $800 million order with Hyundai Heavy Industries for 10 VLOCs last month had the option to place additional shipbuilding orders.

09 Aug 2017

Vale Sells Two Large Ore Carriers for $178 Mln

Brazilian mining company Vale SA on Wednesday said it has sold two ships with a capacity to carry 400,000 tonnes of iron ore each for a total of $178 million.   The company said it received the payment on August 8 and that it is in talks to sell two remaining ships of the same class (VLOC, very large ore carriers). Vale did not reveal the name of the buying company. (Reporting by Marcelo Teixeira; editing by Diane Craft)

03 Apr 2017

Vale: Iron Ore on Sunken Ship Insured

Brazilian miner Vale SA said on Monday that 260,000 tonnes of fine iron ore on a South Korean ship that sank in the South Atlantic had been insured.   Vale said in an email that the cargo, which belonged to the Brazilian miner, was bound for China for storage and blending when the ship operated by South Korea's Polaris Shipping, Stellar Daisy, sank off Uruguay's coast.   Vale said the cargo had been stowed in accordance with international norms.   Reporting by Roberto Samora

01 Jul 2016

Vale Sells 3 Valemax Iron Ore Ships to ICBC

Brazil's Vale SA said it has sold three of its giant "Valemax" iron ore ships to a group led by Industrial and Commercial Bank of China, continuing efforts to unload assets to cut debt and focus investment on its main mining activities. Vale will receive $269 million for the ships when they are delivered to the Chinese-led group, likely in August, Vale said in a statement late on Thursday. Vale said it was also seeking to sell other Valemax ships. The vessels, also known as Very Large Ore Carriers (VLOC's) are about 300 meters (984 feet) long and carry up to 400,000 deadweight tonnes, making them some the largest ships afloat. (Reporting by Jeb Blount; Editing by Sandra Maler)

31 Mar 2016

Vale Says Mitsui Not Reconsidering Mozambique Coal Venture

Brazil's Vale SA, the world's No. 2 mining company, said on Thursday that partner Mitsui & Co Ltd has no plans to revise the terms of a coal venture project in Mozambique, as reported by a newspaper. Rio de Janeiro-based Vale said in a securities filing that a recent decision to reduce the accounting value of assets in the project "does not directly impact Mitsui's investment decision" in the asset, adding that both companies are working to conclude long-term financing for the venture. Earlier in the day, Brazil's Valor Econômico newspaper cited unnamed sources in reporting that Mitsui was seeking to revise terms of the venture with Vale after the Brazilian miner wrote off $2.4 billion in assets in Mozambique.

11 Mar 2016

Chinese Shippers Order for 30 Valemax Vessels

The Chinese shipping companies - Chinese shipping majors Cosco Group, China Merchants Group and ICBC Financial Leasing Co- ordered 30 Valemaxes worth a combined $2.5 billion for delivery starting from 2018, deployed on Brazil-China trade routes, reports WSJ. The vessels will bosst the trade between China and Brazil and also will invest billions of dollars into delaying shipbuilding industry in the country. The vessel will be employed on Brazil-China trade routes, boosting the import of Vale iron ore in China. Sources said the three state-controlled shipping companies ordered 10 ships each from four local yards—Shanghai Waigaoqiao Shipbuilding, Beihai Shipbuilding, CIC Jiangsu and Yangzijiang Shipbuilding—with deliveries scheduled to begin in 2018.

18 Feb 2016

Vale: Q4 Iron Ore Output a Record

Brazilian miner Vale SA said on Thursday it produced 88.4 million tonnes of iron ore in the fourth quarter, a new record for the company.   The world's largest producer of the steel-making raw material also produced 82,700 tonnes of nickel and 1.59 million tonnes of coal in the period.   For full-year 2015, Vale produced 345.9 million tonnes of iron ore and 291,000 tonnes of nickel.     (Reporting by Jeb Blount and Luciana Bruno; Editing by Mark Potter)

26 Jan 2016

Vale's Tubarao Port to be Reopened

Brazilian mining company Vale SA may reopen its iron ore and coal port, Port of Tubarao, near Vitoria, reports Reuters. Vale, the world's largest iron ore exporter, said the order came from Brazil's Federal Regional Tribunal. The injunction gave Vale, the world's largest iron ore exporter, 60 days to fix water and air pollution issues or face reclosure of the facility, said the lawyer, Sergio Bermudes, of Sergio Bermudes Advogados. The Tubarao port operations have been suspended due to environmental issues, notably the dust that was spreading to neighbouring areas. Tubarao is extremely important for Vale, as Vale exports more than 1/3 of its iron ore production through this port. During the first 9 months of 2015, Vale exported 82.5 million tonnes of iron ore through Tubarao.

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