ShippingWatch

Has the world seen the last Valemax newbuilding?

Apparently, Brazilian mining company Vale has built the last of its giant Valemax vessels. The super-segment, which makes the Capesize look like a sailboat, will now be divested from the company which is struggling in several aspects of its business.

Photo: Vale

RIO DE JANEIRO

It is hustling and bustling in the tall, gray, concrete building where Brazilian mining group Vale has its global headquarters in the middle of Rio de Janeiro's financial district. The area where banks, consulates and the major businesses are located in the second largest city in Brazil, is the heart of the country's vital energy sector, which is currently under pressure from low oil prices and the decline in the mining industry.

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