Trade Resources Industry Views CISA Supports Brazil'S Vale Docking Its Giant Valemax Ore Carriers at China

CISA Supports Brazil'S Vale Docking Its Giant Valemax Ore Carriers at China

Reportedly China’s Iron and Steel Association (CISA) said that it would support Brazil’s Vale docking its giant Valemax ore carriers at China if that would lead to decreases in iron ore costs for its members.

Zhang Changfu, Secretary-general of the CISA said that they support the slash shipping costs.

Vale built the Valemaxes to slash shipping costs to China and to better compete with Australian rivals BHP Billiton and Rio Tinto.

However stiff opposition from Chinese ship owner hampers the plans due to the concerns of monopolize in both shipping and iron ore market in China.

Source: http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=62911&division=A9
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CISA Supports Valemax Entry Into China
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