Vale’s mega ships to stall maritime recovery for years

The rollout of the world’s largest dry bulk carriers by Brazilian mining giant Vale in 2011 will slash the cost of shipping commodities and choke off a recovery in the freight market for years.
China’s ravenous appetite for iron ore and coal – the two main commodities shipped in the dry bulk market by volume – has transformed the maritime industry, with mining and shipping firms building bigger and bigger vessels to meet its demand.
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Source: Maritime Sun News