Vale and Cosco in billion dollar VLOC deal

Brazilian mining giant Vale has sold eight of its large dry bulk vessels, VLOCs, to carriers including Cosco as part of a comprehensive cooperation agreement.

BY OLE ANDERSEN

Brazil's Vale, the world's top iron ore producer, has sold a total of eight of the mining company's VLOCs - Very Large Ore Carriers - to China's Cosco and China Merchants Energy Shipping Group (CMES).

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Vale and Cosco in billion dollar VLOC deal

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Mining giant negotiating order for additional VLOC's

Vale and Cosco in giant iron ore arrangement

Another mining giant gets its own bulk fleet

Sign up for our newsletter

Front page now

Maritime & Merchant notes fierce competition in loans for shipping

14 arrested at demonstration in front of Maersk headquarters

Norwegian car carriers bag multi-year contracts

IMO's fossil fuel ban in the Arctic faces criticism

Record influx of container ships this year will not cause trouble until 2025

Cosco and CMA CGM expect further pressure on major European ports

Kuehne+Nagel triggers unrest among staff with new management structure

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Less than one percent of the container fleet is currently idle

Congestion in Asian ports is now as bad as during Covid

Analysis: Capesizes have become too expensive despite strong market

UK Chamber of Shipping calls for more trade-friendly policies

Further reading

Kuehne+Nagel triggers unrest among staff with new management structure

Cosco and CMA CGM expect further pressure on major European ports

Congestion in Asian ports is now as bad as during Covid

Less than one percent of the container fleet is currently idle

Dry bulk players dismiss green fuels in favor of low-hanging fruits

Analysis: Capesizes have become too expensive despite strong market

Jobs