Vale has signalled it is prepared to commission more than a 100 of its controversial giant Valemax ships as the biggest producer of iron ore battles with Australia-based miners for the key Chinese market.
The Brazilian miner expects Chinese appetite for iron ore to remain strong despite the country’s economic slowdown, providing the demand to justify the ships which rank as the largest dry bulk carriers with decks the size of three football pitches.
“A Valemax can make four trips per year, carrying about 1.5m tonnes per year,” said José Carlos Martins,” the company’s head of ore and strategy told the Financial Times. “Given that Vale exports about 200m tonnes to Asia, the market would justify more than 100 ships.”
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