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| Name | Symbol | Market | Type |
|---|---|---|---|
| Vale SA | NYSE:VALE | NYSE | Depository Receipt |
| Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -0.04 | -0.31% | 12.95 | 13.055 | 12.81 | 12.90 | 22,792,494 | 23:25:33 |
From May 2019 to May 2024
By Chuin-Wei Yap
BEIJING--China will allow iron-ore carriers weighing 400,000 deadweight tons to berth at its ports, reversing a three-year ban on the giant ships, government agencies said.
Four ports in China will be allowed to dock such ships, including Dalian, Tangshan Caofeidian, Qingdao and Ningbo, the Ministry of Transport and the National Development and Reform Commission said in a joint statement late Thursday.
The Chinese shipping industry had opposed these freighters, which were first built by Brazilian miner Vale S.A. to reduce the cost of transporting its ore to China. Deadweight tons refer to the amount of weight the ship can carry, excluding its own weight.
The government said port authorities would need to abide by specific safety standards in the construction of these berths.
Write to Chuin-Wei Yap at chuin-wei.yap@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
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