Vale has defended that its Valemaxes are not responsible for the oversupply of ships.
Pietro Allevato, Vale’s general manager of shipping, told delegates at the Marine Money Asia conference in Singapore that the company’s strategy is "not about shipping, it’s about iron ore."
“What we are doing with these big ships that we have built, which are being criticised by everyone, is about efficiency,” he told delegates.
He said VLOC is more efficient than panamaxes for the supply of iron ore to Asia, reducing four or five voyages from Brazil to China to two and a half.
Published : September 26, 2012
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