Vale Sells Two Large Ore Carriers for $178 Mln

Brazilian mining company Vale SA on Wednesday said it has sold two ships with a capacity to carry 400,000 tonnes of iron ore each for a total of $178 million.

 

The company said it received the payment on August 8 and that it is in talks to sell two remaining ships of the same class (VLOC, very large ore carriers). Vale did not reveal the name of the buying company.


(Reporting by Marcelo Teixeira; editing by Diane Craft)