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Navios takes Vale to court over Uruguay terminal

Photo of Sam Chambers Sam ChambersMay 26, 2016
24 Less than a minute

A month after Navios Maritime Holdings revealed Vale has ditched plans to use an iron ore terminal under construction in Nueva Palmira, Uruguay, the Angeliki Frangou-led company has decided to pursue legal action against the Brazilian miner.

Navios said it will take legal measures to enforce its entitlement to damages in accordance with the contract terms.

The pair had signed a 20-year agreement in 2013 for storing and transhipping up to 6m tonnes of iron ore and other commodities a year.

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Photo of Sam Chambers Sam ChambersMay 26, 2016
24 Less than a minute
Photo of Sam Chambers

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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