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Thursday, November 15, 2012

Conflict of Interests in China Shipping

Eye opening article. Basically a Brazilian mine owner to make their ore more competitive, had made some super huge vessels at a cost of $2 Billion Dollars. Unfortunately, the company did not realize how politically connected the current ore carriers are (dominated by a Chinese state owned company).

Beijing Wields Big Stick Against Megaships - WSJ
How China Closed Its Ports to Brazilian Miner Vale's Huge Iron-Ore Vessels

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