Beijing willing to form transhipment joint venture with Vale

Shanghai: China is willing to look at setting up some form of transhipment joint venture with Brazilian miner, Vale, to solve the long going impasse over the firm’s set of giant bulkers which are currently banned from entering Chinese waters.

China’s ambassador to Brazil said at a conference in Brasilia earlier this week: "Our transport department has every interest in discussing and resolving this matter, including options such as setting up a partnership to tranship the iron ore and thus work together to lower freight costs."

China has banned Vale’s slew of 400,000 dwt bulkers from calling in China since January 2012.  [28/05/14]

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