Vale announced this week that it has concluded the sale of four Capesize vessels to Polaris Shipping Co.
According to the Brazilian iron ore producer, the deal totaled $140 million, or $35 million per vessel. Vale will receive payment as it delivers each vessel.
Vale delivered one of the vessels Monday and the remaining three should be delivered in December this year and January 2017.
The company said the deal was “consistent” with its strategy of strengthening its financial profile, while focusing in its core assets.