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Brazil's Vale: Problems with Valemax Ships in China Continue

RIO DE JANEIRO--Brazilian mining giant Vale SA (VALE, VALE5.BR) continues to negotiate for access to Chinese ports for its Valemax large iron-ore carriers, the company's director for ferrous metals said Thursday. During a conference call with reporters, Vale's Jose Carlos Martins said "difficulties in China continue," but the company was committed to using the ships in other ports around the world in an effort to reduce shipping costs, particularly to Asia. "China presents the most economically favorable situation" for the use of the Valemax ships, a class of vessels known as very large-ore carriers, or VLOCs, Mr. Martins said. Vale is currently in talks to gain access to other ports in Asia, such as South Korea and the Philippines, Mr. Martins added. "We have alternatives [to use the ships] independent of China," the executive said. The world's largest producer and exporter of iron ore plans a fleet of 35 of the super-sized vessels despite China's ban in January on the ships from entering Chinese ports. Write to Jeff Fick at jeff.fick@dowjones.com. Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Companhia Vale Do Rio Doce (VALE)
DateTimeHeadline
03/28/201706:03:24Report of Foreign Issuer (6-k)
03/28/201706:03:24Report of Foreign Issuer (6-k)
03/28/201706:03:24Report of Foreign Issuer (6-k)
03/27/201706:09:47Report of Foreign Issuer (6-k)
03/27/201706:08:35Report of Foreign Issuer (6-k)
03/21/201714:30:30Amended Report of Foreign Issuer (6-k/a)
03/21/201706:09:13Report of Foreign Issuer (6-k)
03/17/201706:03:41Report of Foreign Issuer (6-k)
03/16/201721:06:00Judge Suspends Lawsuit Against Firms Involved in 2015 Brazilian...
03/16/201706:05:15Report of Foreign Issuer (6-k)
03/10/201708:57:35Report of Foreign Issuer (6-k)
03/08/201717:22:00ADRs End Lower; Petrobras Trades Actively
03/03/201712:34:16Report of Foreign Issuer (6-k)
02/25/201703:02:00Vale's CEO to Exit Amid Political Pressure -- WSJ
02/24/201717:04:18Report of Foreign Issuer (6-k)
02/24/201716:52:00ADRs End Lower; Baidu, Grana y Montero Trade Actively
02/24/201713:09:06Report of Foreign Issuer (6-k)
02/24/201713:07:00Vale CEO Murilo Ferreira to Step Down in May -- 2nd Update
02/24/201710:39:00Correction to Vale CEO Story
02/24/201709:49:00Vale CEO Murilo Ferreira to Step Down in May -- Update

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