In February 2012, Vale began operating a new floating iron ore transfer station in Subic Bay in the Philippines. The facility enables the cargo of Valemax ships to be completely or partially transferred to smaller vessels, thereby raising operational efficiency and enabling shorter delivery times for customers.
In line with our distribution strategy, large low-cost ships will be used to transport our products around 85% of the distance from Brazil to our Asian customers, to distribution centers and transfer stations. The remaining 15% of the journey will take place using smaller ships, which can access smaller ports with complete operational safety.
Subic Bay is naturally protected against ocean swells and winds, and its deep waters lie just days from our Asian customers. Vale’s investment in implementing the station amounts to US$52 million.