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Vale Sells Two Very Large Ore Carriers for $178 Million

Brazilian mining company Vale SA has said it has sold two ships with a capacity to carry 400,000 tonnes of iron ore each for a total of $178 million.

The company said it received the payment on August 8 and that it is in talks to sell two remaining ships of the same class (VLOC, very large ore carriers).

Vale has not revealed the name of the buying company.

It may be recalled here that Vale S.A. concluded talks with Polaris Shipping for the sale of four Capesize bulk carriers for a total of USD 140 million.

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