Page 2: of Maritime Logistics Professional Magazine (Q2 2012)

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2nd Quarter 2012

Volume 2

Number 2 44 Vale Banks on BIG in Brazil 14 Shipping’s Cash Flow 28 “It’s Not Easy Being Green” 32 A Culture of Risk Management 40 The “BowTie” Approach

As Vale do Rio Doce rolls out its new series of 35 mammoth bulk carriers, MPro examines the risks and rewards.

By Claudio Paschoa, Brazil (or lack thereof)!

Shipping is a lethal cocktail of high capital intensity, long-lived assets and overbuilt cyclical markets. How does anybody survive? by Barry Parker, bdp1 Consulting Ltd.

As Kermit the Frog sang and shipping companies g192 nd, legally man- dated investment in new environmentally sound technology is fraught with risk and reward. by Robert Kunkel

Tom Ridge and Tom Collins address maritime risk head on, and can teach you a thing or two on saving your brand, your reputation and your company.

By Joseph Keefe

In its never-ending effort to reduce risk in maritime operations, the

U.K. P&I club offers an innovative approach to identify threats and recommend change.

Maritime Professional 2Q 2012 | www.MaritimeProfessional.com

ON THE COVER

A full range of risk awaits Vale’s new transport strategy. Is it on the right course?

Murilo Ferreira, President of Vale, (pictured) thinks so.

See story on page 44. (V ale do Rio Doce photo) (Image: UK P&I) (Bruno Lima photo)

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