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Wednesday, December 28, 2011

Mega Vale iron ore ship sails for Philippines

Wednesday, 28 Dec 2011

Reuters reported that one of Vale mega ore carriers, among the world biggest is expected to arrive in the Philippines this week to unload its maiden cargo of Brazilian iron ore as the miner fleet remains locked out of its biggest market, China.

Vale has been forced to divert its fleet of six mega vessels to the Philippines, Italy, Oman and other destinations while waiting for Beijing to give it access to Chinese ports. The 388,000-tonne Berge Everest leased from Singapore-based Berge Bulk is the first of Vale planned fleet of 35 giant vessels to travel to Asia fully loaded with iron ore.

According to Reuters Freightviews after a brief stop to refuel in Singapore this month, the ship will dock in the Port of Villanueva in the Philippines.

A port agent said it is expected to then transfer the iron ore to two smaller capesize vessels, bound most likely for China.

A domestic port agent who wished not to be identified because his company was not handling the vessel said "It seems as though the ship will be unloading in the Philippines. I guess we will be the iron ore centre for Vale in Asia until their China problem is resolved."

Berge Bulk and Philippine Sinter Corp which operates the Villanueva port and is a subsidiary of Japan JFE Steel Corp were not immediately available for comment.

(Sourced from Reuters)

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