Vale has sold two of its very large ore carriers (VLOCs) to China’s Bank of Communications Finance Leasing Co (Bocomm).
The Brazilian mining giant said the deal for the pair of 400,000-dwt Valemax bulkers was worth a total of around $178m.
It added that it was also negotiating the sale of its remaining two VLOCs, which it said was consistent with its strategy of strengthening its balance sheet and focusing on core assets.
