01
Jul
12:56
Vale sells three more very large ore carriers
Brazil’s Vale has completed the sale of three very large ore carriers (VLOC) of 400,000 tonnes deadweight. The buyer is a consortium led by the Industrial and Commercial Bank of China subsidiary, ICBC International, the miner tells Kallanish.
The transaction was valued at $269 million, Vale says. The sale proceeds will be received by the iron ore miner upon delivery of the vessels, which is expected to be completed by August 2016, Vale adds.
The company…
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Anonymous
Very good overview of the weekly steel market.
Anonymous