Brazilian miner Vale SA remains optimistic about the likelihood
of China accepting its Valemax vessels despite setbacks, a
company executive said June 10.
Vale is the
worlds largest seaborne iron ore producer and has been
actively promoting its plans for the use of very large ore
carriers (VLOCs). However, it hasnt received approval
from the Chinese government to dock a fully loaded Valemax in
"It is an ongoing
issue" and discussions are advancing, Fidel Blanco, Vale
Internationals senior managing director of iron ore sales
for Europe and North America, said at the International Iron
Ore Symposium in Munich, hosting by AMM sister
publication Metal Bulletin.
"Heavy investment has
already been made at several (Chinese ports to enable them) to
receive Valemaxes," he said.
There was no
indication when a Valemax might be granted official entry into
China, but Blanco hoped it would be soon.
Chinese ports that can
accommodate the Valemax vessels, which can transport up to
400,000 tonnes of iron ore, include Dalian, Caofeidian,
Qingdaos Dongjiakou and Majishan.
The alternative for
Vale at the moment is to ship iron ore into China using smaller
vessels, after unloading iron ore from Valemax ships at Subic
Bay in the Philippines.
As much as 45 percent
of Vales iron ore production goes to China, compared with
16 percent to Europe, Blanco said.
A version of this
article was first published by AMM sister publication Steel