Vale welcomed Chinese companies, including COSCO, to transport their goods The world's top iron ore exporter, Brazil's Vale (VALE5.SA), is not excluding Chinese shipowners from transporting its iron ore and remains open to selling its huge dry bulk carriers to them, industry officials said on Wednesday.A senior Vale official met the China Shipowners' Association on Friday to smooth relations after Chinese industry officials said the miner stopped hiring vessels from some firms in retaliation for Beijing's ban on its ships.Chinese shipowners convinced Beijing in January to block the world's biggest dry bulk ships from entering Vale's top market due to concerns over safety and the vessels' potential impact on loss-making domestic shipping companies."The Vale official said there was some misunderstanding. They welcomed Chinese companies, including COSCO, to transport their goods," said Zhang Shouguo, the industry group's secretary general who attended the meeting in Beijing.Vale wants to manage a fleet of 35 Valemaxes, each of which can carry up to 400,000 tonnes of cargo, to slash shipping costs to China and better compete with Australian rivals BHP Billiton (BLT.L) (BHP.AX) and Rio Tinto (RIO.L) (RIO.AX).But Beijing's ban has forced Vale to take a more costly route to deliver iron ore to ...
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