Brazilian miner and iron ore producer Vale said this week it has concluded the sale of two very large iron ore carriers (VLOC) that have a capacity of 400,000 mt, each.
Vale sold the two VLOCs for a combined $178 million, and the company is reportedly negotiating the sale of two other VLOCs. In media reports, Vale said the sale of the ships is consistent with its strategy to strengthen its cash position and focus on its core assets.
According to media reports, the Bank of Communications Finance Leasing Co., Ltd. (Bocomm) financed the purchase, but it is unclear whether another buyer is involved.