The China Shipowners' Association has branded the decision by Vale to build a fleet of iron ore carriers, an investment slated at US$2.3B, as an "attempt to monopolise" the movement of iron out of Brazil. The association is therefore lobbying the government in Beijing to take action against the Brazilian mining company. It argues that the fleet of 35 vessels - of which Vale will own 19 while the rest will be chartered to other owners - will ensure that it will practically control the movement of iron ore between Brazil and China. "Most carriers will be disappointed if no one tries to stop this," said Zhang Shouguo, a VP of the association and formerly a senior official in China's transport ministry.
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