Vale Completes Sale of Four Giant VLOCs for $423 Million
Vale S.A. and a consortium led by ICBC Financial Leasing, a 100% owned subsidiary of the Industrial and Commercial Bank of China, have concluded the sale and buy of 4 400,000 DWT very giant ore carriers, also referred to as Valemaxes, owned and presently operated by Vale.
The transaction totaled US$423 million, which was acquired by Vale Wednesday upon the supply of the vessels to the brand new house owners.???
Earlier this month, Vale introduced that it plans to promote its 11 remaining Valemax iron ore carriers and lease them again in transactions that might elevate $1.1 billion.
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