Valemax welcomed in China

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From Reuters:

Ships in the Valemax fleet of 400,000dwt fleet of ore carriers have been allowed to dock at five ports in China as a ban that had been in place since 2012 is relaxed. Vale investor relations chief Rogerio Nogueira said the Brazilian miner was working to increase the number of ports open to its ships.

The Chinese port ban had stymied Vale’s efforts to reduce freight costs and compete with Australian based-rivals such as BHP Billiton and Rio Tinto.

With oil and this, Vale is powering down the cost curve.

About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.