August20, 2011
Zhang Shouguo, executive vice chairman of the China Shipowners Association (CSA), has stated in an interview with Bloomberg that Brazilian mining giant Vale is seeking to control the freight market just as it controls the iron ore market.
Vale is currently building up a fleet of 19 400,000-dwt vessels for iron ore transportation, while it will rent a further 16 vessels for the same purpose. Mr. Zhang said that Vale should leave responsibility for freight to the shipping companies. He also said that with its new fleet Vale would completely control iron ore shipments between China and Brazil. (sourced steelorbis)
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