Vale suspends iron ore shipments to China due to port damage

Port repairs could take 40 days

By Dave Hannon -- Purchasing, 12/14/2007 10:21:00 AM

Brazilian mining giant Vale (formerly known as CVRD) has been forced to halt iron ore shipments to China from a port in Brazil after the port was damaged December 8.  

In a statement on its web site, Vale says that the Brazilian port has declared force majeure on shipments, but not Vale itself. The statement said shipments could resumed in some capacity tomorrow, but that repair work could take as long as 40 days.

Reuters report, a port official said, “We don't know if [Vale] effectively declared force majeure, but that would normally be the case as we haven't been loading for five days.”

Vale announced in late November the company would adopt that name in place of its former Companhia Vale do Rio Doce, or CVRD for short.