https://www.miningweekly.com

Vale sells two more Valemax vessels for $178m

Vale sells two more Valemax vessels for $178m

Photo by Reuters

10th August 2017

By: Henry Lazenby

Creamer Media Deputy Editor: North America

     

Font size: - +

VANCOUVER (miningweekly.com) – The world’s largest iron-ore producer, Vale, has sold another two of its 400 000-deadweight-tonne vessels for about $178-million, the Brazilian company reported on Wednesday.

The vessels were delivered on Tuesday to nominees of Bank of Communications Finance Leasing (Bocomm).

Vale added that it was negotiating the sale of its remaining two very large ore carriers, which is consistent with its strategy of strengthening its balance sheet and focusing on core assets.

Vale has been in the process of selling its ore carriers for several years now, as it sets out to raise cash and improve relations with China's shipping companies, which had previously lobbied to block access of the ships to Chinese ports.

The vessels are some of the largest ships ever built and were designed to help reduce the cost of shipping ore to China from Brazil, helping Vale better compete with Australian rivals who are closer to the largest market for the steelmaking ingredient.

Edited by Samantha Herbst
Creamer Media Deputy Editor

Comments

Showroom

Aqs image
AQS Liquid Transfer

AxFlow AQS Liquid Transfer (Pty) Ltd is an Importer and Distributor of Pumps in Southern Africa

VISIT SHOWROOM 
Alco-Safe

Developed to exceed the latest EN 15964 standards for police breathalysers proving that it will remain accurate and reliable for many years to come.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024
Resources Watch
Resources Watch
17th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.175 0.213s - 90pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: