​Vale and nominees of Bank of Communications Finance Leasing Co., Ltd. (Bocomm) concluded the sale and purchase of two very large ore carriers (VLOCs) of 400,000 tons owned and currently operated by Vale.

Vale concludes the sale of two very large ore carriers to Bocomm
Image courtesy of Vale

The transaction totaled approximately US$ 178 million and this amount was received by Vale on August 8, 2017, at the delivery of the vessels.

Vale is also negotiating the sale of its remaining two VLOCs, which is consistent with its strategy of strengthening its balance sheet and focusing on core assets.

Source: Vale