The vessel, a Very Large Ore Carrier with a capacity of 260,000 tons, was taking a cargo of iron ore from the Ilha Guaiba terminal, near Rio de Janeiro, to China for use in the steel industry.

Meantime the damaged Vale Beijing has been towed to an anchorage for repairs, according to STX Pan Ocean, which operates the 400,000 dwt iron-ore carrier. South Korea-based STX has not explained ...

It has invested in a fleet of very large ore carriers (Valemaxes) which somewhat mitigate this freight disadvantage. We expect the breakeven cost curve to materially flatten by midcycle ...

It has invested in a fleet of very large ore carriers (Valemaxes) which somewhat mitigate this freight disadvantage. We expect the breakeven cost curve to materially flatten by midcycle ...