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