Vale finally lands big Chinese contract

Following a good deal of wrangling, Vale has signed a deal worth USD 500m and the company's huge VLOC dry cargo vessels will now finally be allowed to dock at Chinese ports.

Photo: Vale

A dispute between the Chinese authorities and the Brazilian mining company Vale seems to have been resolved, at least for a while, as Chinese company Shandong Shipping is set to take control of four VLOCs from Vale in a deal worth USD 500m, according to several media outlets.

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