Vale

Vale flooded with red ink with US$2.65b loss

28 Feb 2013

Brazilian mining giant Vale posted its first net loss in 10 years in the fourth quarter after taking US$5.66 billion (HK$43.91 billion) in charges for underperforming mines and other mills, a loss...

Global miners sweep out loss-makers as profits plunge

12 Feb 2013

Global mining companies are set to unveil their biggest falls in profit in more than a decade and are clearing the decks with multibillion-dollar writedowns on poorly performing assets as they...

Iron ore at 2-week low as China demand slips, swaps down

20 Nov 2012

Iron ore swaps dropped on Tuesday after spot prices hit two-week lows with demand from top buyer China losing steam after weeks of restocking.

Rating agency S&P says no respite for iron ore miners

2 Oct 2012

Global credit agency Standard & Poor’s said it saw little improvement in iron ore prices in the near-term and warned that smaller single-commodity miners could see their ratings slip.

Vale still on the hunt for ore fleet buyer

22 Jun 2012

Vale, the Brazilian commodities giant, is continuing to negotiate with mainland and foreign shipowners over the sale of its fleet of 19 massive 400,000 dwt (deadweight tonne) Valemax very large...

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Yards in line for huge ship orders

Mainland shipyards could see a raft of new orders for the massive vessels known as very large ore carriers (VLOCs) once domestic authorities resolve regulatory and other issues, a senior shipping...

Business Digest

YGM buys struggling Aquascutum for HK$188m

Jiangsu assistance buoys China Rongsheng profits

Shares in China Rongsheng Heavy Industries, the mainland's largest privately controlled shipbuilder, fell 4.45 per cent yesterday to end the day's trading at HK$2.36 before the company announced...

Vale expects market for iron ore to hold steady

Vale, the world's largest producer of iron ore, expects prices of the mineral to remain largely stable this year, even after they dropped for seven days straight in their longest losing streak in...

Vale enlists ore transfer vessel to get round ban

Brazilian mining group Vale has expanded the flexibility of its iron ore shipping operations, especially to mainland ports, after taking delivery of a ship that is capable of loading and unloading...

China Rongsheng targets 6-month orders of US$1b

China Rongsheng Heavy Industries will focus on winning more new ship orders from mainland shipowners in the second half of this year to offset a possible drop in orders from the West.