 The ban was officially lifted in July 2015.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 global economic downturn and the reluctance of Chinese ports to accept the fully laden ships, the new board of directors decided to focus capital allocation to mining.