Polaris Shipping has completed the acquisition of four capesizes from Brazilian mining giant Vale.
Vale said the transaction totalled $140m, placing a price tag of $35m on each vessel.
One of the four unnamed ships was delivered today while the delivery of the remaining three will be completed by January 2017.
Vale and Polaris are no strangers since the two companies have signed a series of long-term contracts of affreightment (COAs).
The
