OREANDA-NEWS. A new deal with Chinese shipping firm Cosco will help Vale capture a larger share of the Chinese iron ore market, CEO Murilo Ferreira told CNBC.

"We are very confident that it's an issue of time. Having huge material, millions of [high quality] tons, for sure China will see the merit of having Brazilian ore, mainly our ore from Carajas. It's an issue of quality, it's an issue of competitiveness," Ferreira said on Thursday.