• 2014 September 27 09:05

  Vale and China Merchants Group sign agreement on VLOCs

  

  Vale and China Merchants Group signed today, in Beijing, a framework agreement for strategic cooperation in iron ore shipping, Vale said in its press release. The document was signed by Mr. Gurinder Singh, Vale’s Shipping and Distribution Director, and Mr. Xie Chunlin, President of China Merchants Energy Shipping Co., LTD’s and was witnessed by Mr. Claudio Alves, Vale’s Global Director of Iron Ore Marketing & Sales, and Mr. Su Xingang, China Merchants Group’s Vice President.

  This agreement brings together a strategic cooperation between Vale and China Merchants. Vale and China Merchants agreed to enter a contract of affreightment for a period of 25 years which will be serviced by ten very large ore carriers to be built by China Merchants for the transportation of Vale’s iron ore from Brazil to China.

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