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Author Topic: "Vale sells four of its 19 “super” cargo ships"  (Read 7582 times)
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Robert McDonald
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« on: December 21, 2011, 09:09:16 pm »

This news item just came across my desk, from macauhub:
http://www.macauhub.com.mo/en/2011/12/21/brazilian-group-vale-sells-four-of-its-19-%E2%80%9Csuper%E2%80%9D-cargo-ships/

Robert in Port Townsend
www.oil-electric.com
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peterredd
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« Reply #1 on: December 23, 2011, 09:06:58 am »

Vale SA four of its 19 iron-ore mega ships to Asian companies

 http://www.seanews.com.tr/article/TURSHIP/DRYBULK/73628/Vale-mega-Ships-Sold/

Interesting read

Regards Peter
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Mats
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« Reply #2 on: December 23, 2011, 09:35:33 am »

This sure is an interesting story, both the sie and number of the Valemaxes, the apparent political and economical tug-of-war between Brail and China over control over the trade routes, and the problems with "Vale Beijing".

While many newsstories have cast doubt over the decision by Vale to order all these ships, and at quite high prices, the broader picture seems to be less appreciated. Tradewinds brought an interesting angle yesterday, citing a shipbroker at ICAP Shipping who said that any loss from selling the ships at a discount would be “covered by the profit from the sale of iron ore from only one or two shipments in these vessels, even at current depressed ore prices.”

http://www.tradewindsnews.com/drycargo/661582/vale-vlocs-a-lossleader

Think about it: Vale ordered the ships after high transport costs during the shipping boom put them at a disadvantage to Australia. Now the market is down and Vale has through the Valemaxes secured cheap transport on mega-ships for the next 25 years, and ensured it can compete with Australia no matter if the bulk market is up or down. After all, Vale has no shortage of cargo.

So Plan A is to gain the Valemaxes access to China, if necessary through selling the vessels to Asian owners with charters back to Vale.

Plan B is to use the Valemaxes to the hub Vale is building in Malaysia, and use smaller VLOCs to ferry the cargo to other Chinese and Asian ports. They are also converting the 300,000 dwt VLOC "Ore Fabrica" to a transhipper in China these days. It apparently will be employed as a storage and transhipment vessel in Subic, Phillippines:

http://antipodeanmariner.blogspot.com/2011/12/ore-wars-vale-vs-china.html

It will be interesting to follow the story in the weeks and months to come.

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Mats
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« Reply #3 on: December 28, 2011, 08:17:28 pm »

The first Valemax, "Berge Everest", has arrived in Dalian, China:
http://www.tradewindsnews.com/firstpage/661638/giant-bulker-into-china
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Mats
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« Reply #4 on: December 29, 2011, 08:15:24 pm »

And the following web page has the pictures to prove it:
http://news.we54.com/news/201112/28_42238.html

Translation here: http://translate.google.com/translate?sl=zh-CN&tl=en&js=n&prev=_t&hl=no&ie=UTF-8&layout=2&eotf=1&u=http%3A%2F%2Fnews.we54.com%2Fnews%2F201112%2F28_42238.html



« Last Edit: December 29, 2011, 08:18:54 pm by Mats » Report to moderator   Logged
Mats
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« Reply #5 on: January 29, 2012, 09:23:26 pm »

The giant 300,000 dwt transhipper is ready. Picture here:

http://www.xrshipyard.com/english/UploadFiles/2012126142144450.jpg
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victor radio74
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« Reply #6 on: April 21, 2012, 08:29:48 am »

The Vale saga continue: Vale refuses delivery on 3 China built Valemax ,see http://www.globaltimes.cn/NEWS/tabid/99/ID/705848/Vale-refuses-delivery-on-Chinese-ships.aspx
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Tuomas Romu
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« Reply #7 on: April 21, 2012, 01:15:19 pm »

According to TradeWinds RSHI called the reports about Vale refusing delivery "inaccurate and unfounded”.
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Jean Hemond
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« Reply #8 on: April 22, 2012, 12:13:27 am »

I had a look over the web the growing conflicts over iron ore for which shipping is a large part of the cost of steel. It seems that coal supply is on the long run more or less in the same situation.
Here in Quebec there is right-now quite a heated discussion over iron ore mine's infrastructures, roads, power-lines, rail-roads and harbours to be government supported. And we have a growing surplus of electricity for which we sell new dams production at a loss to large concerns. javascript:void(0);
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