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The peak of Vale's strategy of supersizing its sea transport programme was its massive Valemax series, here represented by the 400,000-dwt Shandong Da Zhi (ex-Vale Minas Gerais, built 2012), delivering ore at Qingdao. Photo: Shandong Shipping

Chartering reboot of accident-prone VLOCs cost Vale $128m

The bill for miner's reform of its chartering programme has come in, while a new claim in the Stellar Banner disaster is still uncounted

8 April 2021 10:11 GMT Updated 8 April 2021 10:11 GMT

By Bob Rust

in Oslo

Reversing out of its commitment to accident-prone converted tankers has proved costly for Brazilian mining giant Vale. Discontinuation

Casualties

Chartering reboot of accident-prone VLOCs cost Vale $128m