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Vale to Buy More Ships to Increase Iron Ore Exports

Iron Ore Producer of Brazil, Vale has planned to increase its shipping fleet so as to double the iron ore shipment to China over the next five years. 
Vale’s head of Iron ore, Mr. Jose Carlos Martin said that with the increase in the export quantity of iron ore, they would need to hire or buy more ships, according to the financial point of view.
In 2011, Brazilian owned Vale started using Valemax vessels, the biggest iron ore carrier in the world, for reducing the shipping costs to Asian market. But, still the company yet not convinced the port authorities of China to allow the ships to anchor at the Chinese ports due to safety concerns.

Source:Scrap Monster


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