12
Sep
01:00
Vale sets up long-term shipping agreement
Iron ore major Vale confirms to Kallanish that it has signed a framework agreement with the China Ocean Shipping Co (Cosco) on 12 September in Beijing for strategic cooperation in shipping iron ore from Brazil.
Vale says it will transfer four of its existing very large iron ore carriers of 400,000 tons deadweight to Cosco and charter them back on a long term basis for 25 years. In addition the companies will enter into a similar long term contract of affreig…
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Anonymous
Very good overview of the weekly steel market.
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