Marine Link
Sunday, September 24, 2017

COSCO Says Vale Giving its Bulkers the Cold Shoulder

May 9, 2012

Cosco says Vale shuns Its vessels because of China's ban on Vale's mega-ships

Bloomberg News reports that  China Ocean Shipping (Group) Co., the nation’s biggest operator of dry-bulk ships, has said Vale SA (VALE3) was refusing to use its vessels in protest over a Chinese Government ban on the Brazilian miner’s mega-ships.

The state-owned company, known as 'Cosco', expects a “big” impact on operations from the boycott and it’s considering filing a complaint with China’s Ministry of Commerce, President Ma Zehua stated in Beijing. Vale, the world’s biggest iron-ore producer, has shunned unit China Cosco Holdings Co.’s fleet for about two months, even if it meant using more expensive ships from other owners, Ma Zehua said.

Maritime Reporter Magazine Cover Sep 2017 - Maritime Port & Ship Security Edition

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News