Vale Sustainability Report: New ore carrier world's most efficient vessel

Brazilian mining conglomerate Vale SA says its second-generation Valemaxes, used to transport iron ore from Brazil to China, are the most efficient vessels ever built in terms of greenhouse gas emission reductions.

The company's new sustainability report says the new vessels, also known as VLOCs, have a capacity of up to 400,000 metric tons dead weight and emit 41 percent less carbon dioxide than the Capesizes used in 2011, which had a capacity of 180,000 tons and served as the basis for the first generation of Valemaxes launched that year.

Because of the close cooperation with Chinese partners in various areas, Valemax vessels are designed in China, with most of them constructed and financed in China, as well.