China, Vale officials in Lianyungang port talks
Officials from China's Jiangsu provincial government reportedly held cooperation talks with Brazilian giant Vale's management.
Proposals such as establishing a shipping route between Jiangsu's Lianyungang port and Brazil and a spot exchange platform for iron ore were discussed, Asian shipping news service SinoShip said.
Lianyungang port has been one of the "most proactive" ports in receiving Vale's very large ore carriers (VLOCs), SinoShip added. Currently, Vale is the largest supplier of iron ore to the port.
On October 10, one of Vale's carriers called at China's Qingdao port loaded with 300,000t of iron ore, technically respecting a government ban on Vale's 400,000t VLOCs, Chinese sources were quoted as saying.
Vale managed to obtain from Lianyungang's port authority a similar approval in April 2013 for a surprise call, the first time a VLOC had docked in China after the ban.
Vale's stop in China followed deals with state-owned Cosco Group and China Merchants Energy Shipping (CMES) for the construction of 10 VLOCs each for Vale under a 25-year charter.
BAN
In February 2012, China's transport ministry announced a ruling that restricted the rights of ports to accept many of these vessels, prompting analysts to speculate that Vale would no longer be able to make full use of its VLOCs.
The use of VLOCs has also faced opposition from Chinese ship owners, due to fears that the miner could monopolize the shipping and iron ore market.
The VLOCs are part of Vale's logistics plan, which includes vessels, floating transfer stations and distribution centers.
Rio de Janeiro-based Vale is the world's largest iron ore producer and exporter.
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