Vale says first Valemax ship to discharge at Malaysia in March
BEIJING Feb 25 (Reuters) - Brazil's Vale SA will soon start its Malaysia iron ore storage and distribution centre, which will receive its first "Valemax" iron ore carrier in March, João Mendes De Faria, President of Vale China said at an industry conference on Tuesday.
The company is counting on the giant ships to help slash costs of shipping ore to China, the world's largest iron ore market, and compete with Australian rivals BHP Billiton Plc and Rio Tinto Plc RIO.L>, whose mines are closer to Chinese customers. (Reporting by David Stanway; Editing by Richard Pullin)
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