Vale and the China Ocean Shipping Company (Cosco), the largest dry bulk carrier in China and one of the largest dry bulk shipping operators worldwide, concluded the sale of four very large ore carriers of 400,000 tons deadweight owned and currently operated by Vale, the company says in its press release. This transaction is related to the previously disclosed agreement signed with Cosco on September 12, 2014.
The transaction totaled US$ 445 million and this amount will be received by Vale upon delivering of the vessels to Cosco, which is expected to happen in June, 2015.