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After China Approved Four Ports on Its Coast Last Month and Increased Demand for Iron Ore, Vale Decided to Expand Exports of the Product Through a Terminal in Maranhão
Vale is targeting new business to meet Chinese demand and intends to increase iron ore shipments to the Asian country. To this end, the Brazilian miner is looking to explore a port terminal in Maranhão.
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A multimodal logistics solution featuring a deep-water port, the Port Terminal of Alcântara (TPA) is located in the state of Maranhão and can accommodate large bulk carriers for iron ore transport, known as Chinamax or Valemax.
Vale is considering an increase in the use of the ships after China imported record volumes of iron ore to meet the steel industry’s raw material demand due to growth in infrastructure and construction sectors in the country.
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Vale’s Action Comes After China Approved Four Additional Ports on Its Coast
Strong Chinese demand along with supply concerns have driven the price of iron ore above US$ 110 per ton in July, a record high since August 2019.
“Vale’s Valemax ships were a creation of Brazil to bring its mines closer to China. Therefore, the approvals of the four deep ports are a vote of confidence in (Vale’s) ability to provide quality iron ore. We believe it is important for China to have diversified suppliers”, said Paulo Salvador, an executive of the private operator of the Alcântara terminal, Grão Para Multimodal (GPM).
Transporting Vale’s Iron Ore to China Has Already Resulted in an Accident on the Coast of Maranhão
The Cargo Ship Stellar Banner, which ran aground on the coast of Maranhão in February this year during the transport of iron ore from Vale to China, suffered a ‘forced shipwreck’ about 150 kilometers off the coast of Maranhão.
According to the Navy, the ship is already being prepared to prevent environmental damage. Oil residues, as well as floating or contaminating objects on board, have been removed. Learn More Details Here.
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