Vale Sells Two Very Large Ore Carriers for $178 Million

Brazilian mining company Vale SA on Wednesday said it has sold two ships with a capacity to carry 400,000 tonnes of iron ore each for a total of $178 million. The company said it received the payment on August 8 and that it is in talks to sell two remaining ships of the same class (VLOC, very large ore carriers).  Vale said it is also negotiating the sale of its … [Read more...]

Ship Photos of the Day – Vale Ships First Iron Ore from Giant S11D Mine

Brazilian mining giant Vale has shipped the first cargo of iron ore from the company's giant new mine in the Amazon known as S11D. The company said that three ships were loaded at Vale's expanded Ponta da Madeira Maritime Terminal in São Luís on Friday. The cargo included approximately 26,500 tons of iron ore that was extracted from the S11D mine, located in Canaã … [Read more...]

COSCO Shipping Orders 10 Very Large Ore Carriers

SHANGHAI, April 1 (Reuters) - China COSCO Shipping Corp has placed an order for 10 very large ore carriers (VLOC) from China State Shipbuilding Corp (CSSC), the official Xinhua news agency reported late on Thursday. The value of the contract was not disclosed, but all 10 of the vessels will be large 400,000 tonne ships, Xinhua said. The vessels would help COSCO Shipping … [Read more...]

Brazil’s Agnelli, Who Turned Vale Into Top Miner, Killed in Plane Crash

By Guillermo Parra-Bernal and Tatiana Bautzer SAO PAULO, March 20(Reuters) - Roger Agnelli, the Brazilian banker who turned Vale SA into the world's No. 1 iron ore producer, died on Saturday in a plane crash. He was 56. Agnelli, his wife and two children were among seven killed when his Comp Air 9 turboprop monoplane slammed into two homes around 3:20 p.m. local time … [Read more...]

China COSCO Shipping, Vale Sign 27-Year Iron Ore Transport Deal

SHANGHAI, March 18 (Reuters) - China COSCO Shipping Corporation and Vale have signed a 27-year-long agreement that will see the Chinese shipping giant carry 16 million tonnes of iron ore per year for the Brazilian miner. The agreement was signed between the two companies at a ceremony in Beijing on Friday, the Chinese company said in a statement. "The signing of the … [Read more...]