Brazil’s Vale SA has sailed the first in a fleet of more efficient cargo vessels it’s using in a push to minimize the geographical advantage of its Australian rivals in sending iron ore to China.
The Yuan He Hai is part of a second-generation line of Very Large Ore Carriers, known as VLOCS or Valemaxes, that Vale will employ to deliver the steelmaking ingredient, primarily to its biggest customers in China. The freighter embarked from the Brazilian port of Tubarao, the company said by email Tuesday.