Brazil-based mining giant Vale has announced that it has concluded the sale of four very large ore carriers, also known as Valemaxes, of 400,000 deadweight tons each owned and currently operated by Vale, to ICBC Financial Leasing (ICBCL), a 100 percent owned subsidiary of the Industrial and Commercial Bank of China.
The transaction totaled $423 million in value. Vale delivered the vessels to the new owners on December 8.