Brazilian miner and iron ore producer Vale has signed a memorandum of understanding (MoU) with Cosco Shipping Logistics in Beijing, China, to further strengthen the logistics capacities of both parties, Vale said this week.
Vale said the deal also reinforces the long-term partnership between Vale and Cosco, which Vale said is one of its “key strategic business partners.”
The deal was signed by Vale’s business development director Sergio Espeschit, and Han Jun, Cosco’s president and deputy party secretary at Cosco Shipping Logistics.
“Vale and Cosco Shipping Logistics will explore the possibilities of enhancing the logistics efficiency, capability and safety standards of both companies in order reduce costs and improve performance for the shipment and distribution of high quality ores and blends,” Vale said in a statement.