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Vale to Sell 4 Large Iron Ore Carriers to CMES

Maritime Activity Reports, Inc.

May 19, 2015

Brazilian miner Vale said on Tuesday it agreed to sell four large iron ore carriers to China Merchants Energy Shipping Co (CMES) , as it looks to raise cash in the midst of an iron ore price slump.
 
The world's largest producer of iron ore said in a statement the details of the contract had not yet been finalised and will be released in the coming months.
 
 
(Reporting by Stephen Eisenhammer)

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