Vale (VALE) has spent ~$2B on a fleet of mega-ships to carry its iron ore from Brazil to China,...

|About: Vale S.A. (VALE)|By:, SA News Editor

Vale (VALE) has spent ~$2B on a fleet of mega-ships to carry its iron ore from Brazil to China, but China won't let them in. It's a blow to Vale's global distribution strategy and illustrates the blurred line between China's state-owned enterprises and the country's regulators.