Wednesday, 22 Jun 2011
Reuters reported that Brazilian mining giant Vale said that it has rerouted 391,000 tonnes of iron ore, its first cargo aboard a new class of giant bulk carriers, to Italy from its original destination of China.
The cargo is being shipped aboard the Singapore flagged MV Vale Brasil, the world's largest dry bulk vessel.
Vale said “The alteration of the destination is part of the flexibility in Vale's integrated logistics policy that allows Vale to reallocate the destination of exports, based on the needs of the market.”
Earlier this year Vale said it had not received permission for its so called "Chinamax" or "Valemax" vessels to enter Chinese ports fully loaded. (sourced from Reuters)
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