Chinese consortium buys three Valemaxes

A Chinese consortium owned by Industrial and Commercial Bank of China has bought three Valemax dry bulk vessels for USD 269 million.

BY JOHANNES HARTKOPF-MIKKELSEN

Brazilian commodity giant Vale plans to sell assets totaling USD 5 billion after the sliding commodity prices have put the Rio-based company under pressure. And a Chinese buyer has now given Vale a helping hand, reports Bloomberg.

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