Vale and China Merchants Energy Shipping Co. (CMES), a subsidiary of China Merchants Group, recently signed a contract of Affreightment (CoA) for cooperation in the transportation of iron ore.
According to the CoA, CMES will transport approximately 16 million tpy of iron ore for Vale as of the first half of 2018. The COA will continue until the end of the 27th year from the commencement date.
The CoA was signed by Luiz Meriz, Executive Manager for Shipping and Iron Ore Marketing of Vale and Xie Chunlin, President of CMES. Murilo Ferreira, President and CEO of Vale and Li Jianhong, Chairman of China Merchants Group served as witnesses during the signing ceremony.
“The CoA signed with CMES has further strengthened the long-term partnership between Vale and China and demonstrates our commitment to our Chinese partners,” commented Ferreira.
Read the article online at: https://www.drybulkmagazine.com/shipping/23032016/vale-strengthens-long-term-partnership-with-china/