Brazil will increase its share of the seaborne iron ore market from 2011 onwards as Vale SA increases its fleet of large iron ore carriers. Australia iron exports to China will increase 39% to 389 million tons by 2014 while Brazil iron ore exports will rise 57% to 220 million tons by 2014. Vale is marshalling a fleet of up to 100 ULBCs, VLBCs and Large Capesize in order to increase the company’s strength in the markets. Vale expects to receive the first of 19 new Ultra-Large Bulk Carriers (ULBC’S) by mid-2011. These vessels are capable of carrying up to 400,000 deadweight tons of cargo. This delivery will triple the carrying potential of Vale’s fleet to over 10 million deadweight tons by 2014. Currently, the majority of seaborne iron ore is stored in Capesize vessels, which have a capacity between 83,000 and 200,000 deadweight tons. VLBCs store between 200,000 and 280,000 deadweight tons.