[2] The first Valemax vessels were ordered on 3 August 2008 when Vale signed a contract with the Chinese shipbuilder Jiangsu Rongsheng Heavy Industries (RSHI) for the construction of twelve 400,000-ton ore carriers.

[6][7] Although it was expected that the first Chinese-built Valemax vessel would call a Chinese port on its maiden voyage,[8] the ship was diverted to the new transshipment hub Vale had constructed in Philippines.

[77][78][79] On 24 May 2011, Vale Brasil received her first cargo at the Brazilian port Terminal Marítimo de Ponta da Madeira, 391,000 tons of iron ore bound for Dalian in China.

[83] Since then, fully laden Valemax vessels have unloaded at various ports, such as Dalian in China,[84] Sohar in Oman,[85] Rotterdam,[86] Ōita in Japan,[87] Dangjin in South Korea,[88] and the transshipment hub Vale has constructed at Subic Bay in the Philippines.

[89] On 31 January 2012, the Ministry of Commerce of the People's Republic of China officially banned dry bulk carriers with capacity exceeding 300,000 tons from entering Chinese ports in order to protect the domestic freight industry.

The partially loaded ship docked at the port of Lianyungang en route from the Vale transshipment hub in Subic Bay, Philippines.

[97][98] Originally, Vale planned to own and manage a fleet of 19 Valemax vessels by itself in order to control the wildly fluctuating charter prices for large bulk carriers which had dropped from US$233,988 per day in June 2008 to as low as US$2,400 by December of the same year.

However, because of the Great Recession and the reluctance of Chinese ports to accept the fully laden ships, the new board of directors decided to focus capital allocation to mining.

The South Korean-built Valemax ship, partially loaded with 260,000 tons of iron ore,[108] was towed away from Pier 1 by tugboats in the following day and as a precaution against environmental damage the Brazilian authorities requested her fuel tanks to be emptied.

[114] Vale Beijing remained anchored off Ponta da Madeira with a crawler crane on the deck and an oceangoing tug standing by[115] until 19 February 2012, when it left São Luís for Oman.

After unloading at Sohar, the ship headed to South Korea for dry docking and arrived at STX shipyard in Jinhae, where it was delivered in September 2011, for inspection and repairs on 21 April 2012.

[84] However, in April 2013, The China Shipping Association confirmed that the first Valemax vessel was allowed to dock in the Chinese port of Lianyungang in the Jiangsu province.

[122] The ban was officially lifted in July 2015 as China's transport ministry and National Development and Reform Commission announced that four ports would be opened up for 400,000-ton vessels.

The vessel, operated by STX Pan Ocean, was fully laden with 390,000 tons of iron ore bound for Vale's transhipment hub in Subic Bay.

[123][124] On 28 November 2020, arriving at Ponta da Madeira terminal in Brazil, NSU Carajas allided with two Liberian-flagged 179,000 DWT bulk carriers, Star Janni and Korona D, already berthed there.

While there were no injuries among the crews or the terminal personnel, the ships suffered structural damage and were subsequently moved to an anchorage area outside of the port for inspection.

Although similar in size, there are some differences in main dimensions, cargo capacity, machinery and external appearance between the Valemax ships built in South Korea, China and Japan.

The largest bulk carriers ever built, the Valemax vessels have seven cargo holds with a total gross volume of almost 220,000 cubic metres (287,749 cu yd).

[130] With a deadweight tonnage of about 400,000 tons, a fully laden Valemax vessel is carrying as much iron ore as around 11,150 trucks, enough to produce steel for three Golden Gate bridges.

[134] Like most modern bulk carriers, Valemax vessels are powered by a single two-stroke low-speed crosshead diesel engine directly coupled to a fixed-pitch propeller.

[45] Both MAN and Wärtsilä engines will have a maximum continuous rating of around 29,000 kW (39,000 hp) when turning the 10-metre (33 ft) propeller at 76–78 rpm, giving the ships a service speed of around 15 knots (28 km/h; 17 mph) while burning almost 100 tons of heavy fuel oil per day.

[144] According to the chief executive of BIMCO, the Valemax vessels could displace up to 168 150,000–180,000-ton capesize bulk carriers, around 15% of the existing fleet, from the long haul voyages and force them to less profitable shorter routes.

[144][147] Vale also faced opposition from the China Shipowners' Association which claimed that the Brazilian mining company is seeking to control the freight market as it has already done with the iron ore prices.

In the past, the Chinese ports were not allowed to increase their capacity to more than 300,000 tons for dry bulk carriers due to safety and environmental concerns.

If the 400,000-ton Valemax vessels are allowed to Chinese ports, Vale's monopoly on the route may result in losses for other shipping companies operating capesize ore carriers.

[148] When Vale Brasil was diverted to Italy on her maiden voyage, there was speculation that the domestic steel industry of China had urged the authorities to protect their commercial interests.

[149] As a precaution against prolonged ban of Valemax vessels from the Chinese ports, Vale started constructing both land- and offshore-based transshipment hubs where iron ore can be loaded to smaller ships for final delivery.

Ore Fabrica, a 280,000 DWT crude oil tanker converted in China, arrived at Subic Bay, Philippines, in late January 2012.

[150] This backup plan was criticized by the vice-executive chairman of the CSA, Zhang Shouguo, who called it "waste of resource" and questioned Vale's ability to run the fleet as properly as professional shipping companies.

[153] Luiz Inácio Lula da Silva, the former president of Brazil, also publicly criticized Vale's former CEO Roger Agnelli for the decision of ordering ships from Asian shipyards instead of building them in Brazil, where Lula da Silva has been trying to revitalize the shipbuilding industry to create more jobs and increase local demand for steel and other products.