It is reported that Brazil Vale Shipping Holdings Pte Ltd along with the Subic Bay Metropolitan Authority has formally launched a partnership for the transshipment of iron ore from this free port.
In a ceremony held recently at the Lighthouse Marina Resort here, VSH executives led by Mr Jose Carlos Martins executive officer for ferrous minerals operations and officials of the SBMA led by Chairman and Administrator Mr Roberto Garcia announced the start of Vale transshipment business here.
The company will carry out iron ore transshipment operations from its Valemax mother vessel to be anchored in Subic Bay and then supply ore to smaller daughter vessels or feeders which are either Panamax or Capesize types. The project is expected to boost Subic port revenues by up to P70 million in the first year of operations alone.
In his message during the project launch, Mr Martins thanked the SBMA for its warm reception of the project and expressed hope that the partnership between his company and the SBMA would continue to grow and benefit both the Philippines and Brazil.
Martins noted that “The Philippines is growing now at almost the same pace with China and the Philippines is emerging in the world economy, adding that “with this opportunity, now is our time now is the time for countries like Brazil and the Philippines.”
Meanwhile, Mr Garcia said the Vale project will help boost the Philippine maritime industry and stressed its importance to the SBMA. He said that “In our strategic plan, we were very dead-set in continuing to promote the maritime business and the Vale project is an important pillar of our strategy to maximize the use of Subic Bay.”
Mr Garcia added “We have a very good future here, pointing out that the Philippines is in a current state of rapid development, having achieved a 6.4% GDP growth rate this first quarter compared to 4% last year.”
He added that “And what is outstanding is the fact that it is the second highest growth rate in the region, second only to China.”
For his part, SBMA director and Treasurer Mr Joven Reyes said the agency is much honoured that VSH had chosen Subic Bay as its major transshipment port.
He said that “We hope even more that your business continues to move from success to success and that this partnership, which we are officially launching today, would lead to better and greater developments for Vale, Subic Bay, and of course our country down the road.”
The Vale project began in late 2010 when SBMA and Vale proposed a solution that matched Vale’s transshipment operations model with SBMA logistics business model.
Source - zambotimes
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