06
Dec
12:52
Vale sells capesize vessels to Polaris
Vale, the Brazilian raw materials supplier, has concluded the sale of four capesize vessels to the Turkish head-quartered Polaris Shipping, the miner tells Kallanish.
The objective is to strengthen its balance sheet and focus on more core assets, according to a statement from the company.
The sale is set to bring $140 million to the miner, or around $35m per vessel, Vale says.. The first capesize was delivered this week while the other three will be deli…
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