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Vale concludes sale of vessels to Bocomm

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Dry Bulk,

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

The transaction totalled approximately US$178 million and this amount was received by Vale on 7 December 2017, at the delivery of the vessels.

This transaction concludes the sale of all 19 VLOCs owned by Vale and is consistent with our strategy of strengthening the balance sheet and focusing on core assets.

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Dry cargo shipping news Iron Ore news