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Wednesday, June 22, 2011

Vale rerouting maxi ship for commercial reasons

Wed Jun 22, 2011 10:17am GMT

LONDON, June 22 (Reuters) - Brazilian mining giant Vale (VALE5.SA: Quote) said rerouting its maxi-sized ship "Vale Brasil" from China to Italy was due to strategic and marketing reasons and to allow time to finalise talks with Dalian port.

"There is nothing related to technical or political problems," Vale's global director of marketing Pedro Gutemberg told Reuters.

"This is purely a commercial issue," he said.

Vale said it rerouted 391,000 tonnes of iron ore -- its first cargo aboard a new class of giant bulk carriers -- to Taranto, Italy to supply steelmaker Ilva, from its original destination of Dalian, China. (Reporting by Silvia Antonioli and Jonathan Saul; Editing by Alison Birrane Thomson Reuters)

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