Vale in talks to sell its bulk iron ore carriers

Brazilian mining giant Vale is consulting with Chinese and other shipowners to sell or lease its planned fleet of giant bulk carriers, a Vale official told Reuters on Monday.
 
If a sale or a lease is agreed, Vale will sign a long-term contract with the shipowners that will ensure the ships will only be used to transport Vale's iron ore from Brazil to China and other destinations.
 
Vale declined to say which companies it was negotiating with, but an industry source said one of the companies in question was Beijing-based Chinese state-owned China shipping Group Company (COSCO).