The MV YUAN SHI HAI, pictured here in Singapore, is one of four Valemax ships Vale sold to China Merchants Energy Shipping Co. (CMES) in May. Photo: Ian Edwards
RIO DE JANEIRO, July 30 (Reuters) – Brazilian mining company Vale SA said on Thursday that it expects to receive $448 million from the sale of four dry-bulk iron ore ships to China’s state-owned China Merchants Energy Shipping Co in September.
The 400,000-deadweight-tonne ships, known as Very Large Ore Carriers (VLOC) or “Valemax” vessels, are some of the largest ships ever built and were sold under accords between Vale and China Merchants signed in September 2014 and in May 2015, Vale said in a statement. (Reporting by Guillermo Parra-Bernal and Jeb Blount; editing by Jason Neely)
(c) Copyright Thomson Reuters 2015.
[contextly_sidebar id=”cOik8brdxYbQ3PXUfFu7ozLhEO34kRQB”]
Join the gCaptain Club for curated content, insider opinions, and vibrant community discussions.
Join the 110,460 members that receive our newsletter.
Have a news tip? Let us know.
By Julian Lee (Bloomberg) Moscow’s use of the tankers sanctioned for their involvement in the Russian oil trade is accelerating, with close to one-third of the blacklisted vessels back at work....
By Gautam Naik (Bloomberg) After fearing the worst from Hurricane Milton, investors in catastrophe bonds appear to have sustained losses well below those predicted as recently as Wednesday. Estimates that had...
Oct 8 (Reuters) – Former Amazon.com Consumer CEO Dave Clark said on Tuesday his new software supply chain management startup Auger has raised over $100 million in private equity funding from Oak HC/FT and...
Access exclusive insights, engage in vibrant discussions, and gain perspectives from our CEO.
Sign Up
Maritime and offshore news trusted by our 110,460 members delivered daily straight to your inbox.
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
