Bloomberg reported that Vale SA is set to take delivery of a ship that will help the company bypass the exclusion from Chinese ports of its biggest vessels hauling the commodity.

According to Redhill based IHS Fairplay, the Ore Fabrica, a raw materials carrier that's been converted to a so called transshipment vessel, will be delivered.

Mr Robert Willmington, a spokesman for the provider of shipping data, said that the ship will be the largest global floating transfer station.

Mr Jose Carlos Martins, head of iron ore and strategy, said in December 2011 that China is excluding Vale's five largest ships, the world's biggest carriers of dry bulk commodities because they lack port entry permits. The Rio de Janeiro based company planned to transfer ore to smaller ships from the so called valemax vessels for delivery elsewhere.

Vale is spending more than USD 8 billion to operate a fleet of 35 valemaxes in an effort to gain more control of freight costs to its fastest rowing market in Asia. Chinese ship owners opposed the vessels' introduction on concern it would worsen a capacity glut and plunging rates. China is the biggest global user of iron ore, a steelmaking ingredient.

(Sourced from www.bloomberg.net)