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A giant iron-ore freighter owned by Vale SA was
allowed to dock at a Chinese port last week, Reuters data showed, the first
since the Brazilian miner signed deals with two of China's largest shipping
groups in what was seen as a thawing of relations.
Chinese ship owners have opposed access for Vale's mega-ships of 400,000
deadweight tons, known as the Valemax, saying they could worsen a shipping glut
and steal market share. In 2012, the Ministry of Transport banned the ships from
China's ports, citing safety concerns.
But last month, Vale signed deals with state-backed firms China COSCO and China
Merchants Energy Shipping in a move that marked a breakthrough in the lengthy
standoff and prompted analysts to forecast that Valemax ships would soon be
docking in the world's top iron ore consumer.
The mega-ship Shandong Da Ren docked at Dongjiakou port in Qingdao, eastern
China, on Oct. 2 at the start of a seven-day national holiday, and left for
Singapore on Oct. 4, according to Reuters ship tracking data.
The ship, known as Vale Malaysia till the miner signed a four-ship chartering
deal with Chinese state-owned Shandong Shipping Corporation last year, last
docked at a Chinese port in April 2013. That marked a Valemax's first entry
since the 2012 Chinese ban though it was unclear why it had been allowed in.
China's Ministry of Transport and Vale China did not return requests for comment
when contacted by Reuters on Friday.
Vale's inability to dock its very large iron ore carriers of at Chinese ports
frustrated its attempts to reduce freight costs and compete with Australian
based-rivals such as BHP Billiton and Rio Tinto , which are closer to China.
Source: Reuters
Related links:
Vale Announce 2014 Q4 Iron Ore Discount to Chinese Steel Mills,
Mills Not Happy (2014-10-10)
Vale Says Strikes Lease Deal with China Merchants over VLOC
(2014-09-28)
Vale Expects China to Increase Its Iron Ore Imports
(2014-09-28)
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