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Vale concludes sale of two VLOCs

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Dry Bulk,

Vale and nominees of Bank of Communications Finance Leasing Co. Ltd. (Bocomm) concluded the sale and purchase of two very large ore carriers (VLOCs) of 400 000 t owned and currently operated by Vale.

The transaction totaled approximately US$178 million and this amount was received by Vale on 8 August 2017, at the delivery of the vessels.

Vale is also negotiating the sale of its remaining two VLOCs, which is consistent with its strategy of strengthening its balance sheet and focusing on core assets.

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