Vale Closes Deal With Chinese Port to Expand Iron Ore Handling Capacity

Written by Valdemar Medeiros

Published on 14/10/2020 at 11:14

Minério de ferro – Vale

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Vale, Brazilian Mining Giant, Closes Deal with Chinese Port to Expand Iron Ore Handling Capacity

The West III Project with the Port of Ningbo Zhoushan will allow Vale to improve the supply chain costs for long ocean voyages from Brazil and increase the iron ore handling capacity in China.

The Deep Berths at the Port of Shulanghu Will Be Able to Accommodate Vale’s Gigantic Iron Ore Ships

The Brazilian mining giant Vale has signed an agreement with Chinese state port operator Ningbo Zhoushan Port to create additional capacity for handling iron ore shipments at the Port of Shulanghu, as it seeks to increase its market share in China.

The $624 million project in Zhoushan, Zhejiang province, is particularly strategic for Vale as it increases the amount of iron ore the miner can ship to China.

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West III Project

A joint venture, known as the West III Project, will allow for the handling of an additional 20 million tons of iron ore per year at the port, located south of Shanghai. Vale’s stake in the project will increase its annual iron ore capacity at the port to a total of 40 million tons.

Vale and Ningbo Zhoushan, part of the Zhejiang Provincial Maritime Port Investment and Operation Group and one of China’s largest terminal operators, will have equal ownership in the construction, ownership, and operation of the new port facility.

More Iron Ore

The deep berths at the Port of Shulanghu will be able to accommodate Vale’s massive Valemax iron ore carriers, which are as large as some skyscrapers and can transport 400,000 tons of deadweight tonnage (dwt), much more than standard iron ore transport ships. Vale’s Australian competitors have smaller Capesize carriers, which typically range from 250,000 to 300,000 dwt.

Vale dominates the ownership of the oversized Valemax ships – the largest that can dock at Chinese ports – allowing the miner to be more competitive by sending larger shipments of iron ore from Brazil.

Vale Closes Deal With Chinese Port to Expand Iron Ore Handling Capacity

Vale, Brazilian Mining Giant, Closes Deal with Chinese Port to Expand Iron Ore Handling Capacity

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