Vale is reportedly planning to sell its last owned Valemaxes, its very large ore carriers (VLOCs).
The sale-and-leaseback transactions would “improve the balance sheet while guaranteeing long-term low cost freight agreements”, according to presentation slides for an analyst meeting in London today.
The sales are expected to generate $1.1bn.
Finance chief Luciano Siani said the company expects bring in just over $100m for each ship, similar to prior Valemax sales.
“The
