NS United, the Japanese shipping arm of steel giant Nippon Steel Sumitomo Metals, will dedicate a 400,000-dwt newbuilding to trading iron ore from Brazil to China for Vale as the Brazilian miner expands its controversial Valemax project even further.
The long-term deal marks the first time a Japanese-built and owned Valemax will join the dedicated Vale fleet.
The Tokyo stock exchange-quoted dry bulk owner said it had struck a 25-year contract of affreightment (COA) deal for a 400,000-dwt eco-ship with Vale.
The
