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Navios takes Vale to court for breach of contract

Greece's Navios Maritime Holdings has launched arbitration proceedings in London against Brazilian mining giant Vale, report several media.

Photo: Vale

Navios Maritime Holdings is now reacting to a canceled contract from Brazil's mining giant Vale. According to several media, the Greek bulk carrier has launched an arbitration case against Vale in London concerning a contract for an iron ore terminal in Uruguay in which Navios subsidiary Navios Logistics is involved.

However, it is far from certain that the company will win the case, Navios stated, according to Seatrade Maritime.

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