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iron ore output, and what it will give up to get it. Clearly, Vale is banking on big – big ships and big volumes – moving ever larger volumes with economy of scale and in what they claim is a decidedly greener fashion. It all sounds good, on paper. The world’s largest iron-ore producer supplies more than a quarter of the world’s annual seaborne iron-ore exports. Gam- bling on a transport strategy that is at odds with many other shipowners in an already depressed bulk freight environment, while at the same time trying to supply the pro- verbial 600-pound gorilla known as China, leaves Vale at a critical moment in its cor- porate history. This big producer has big plans based on big ships. What happens next will make all the difference. BRAZIL Photo cr edit: STX Vale Beijing in STX drydock dur- ing construction. www.maritimeprofessional.com | Maritime Professional | 49 MP #2 34-49 NEW STYLES.indd 49 5/4/2012 5:17:12 PM
