ASSESSMENTS
China Blocks Large Ore Carriers from Ports
Feb 3, 2012 | 12:53 GMT
ANGELOS TZORTZINIS/AFP/Getty Images
Summary
China moved Feb. 1 to officially block access to its ports by large ore carriers, specifically the fleet of very large ore carriers owned by Brazilian mining company Vale. Beijing's goal is twofold: It wants to address vulnerabilities in its iron ore supply while also eliminating inefficiency in its steel and shipbuilding industries by enhancing larger companies' positions at the expense of smaller independents.
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