Who owns Vale’s Valemaxes?
It sounds a bit like the old New York riddle, Who’s buried in Grant’s tomb? But in neither case is the answer what you might have expected if you did not already know.
Even before last week’s news that Vale’s arch-enemy, Chinese state-owned Cosco, has agreed to acquire four of the 400,000-tonners and build 10 more, Vale had full control of only about one-third of the fleet, although it is the end-user of all of them.
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