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Vale sells three VLOCs to group led by China’s ICBC

Vale sells three VLOCs to group led by China’s ICBC

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Brazil’s mining giant Vale has agreed to sell three of its Valemax bulkers to a group of buyers led by China’s Industrial and Commercial Bank of China (ICBC) for $269m.

The very large ore carriers (VLOC) are expected to be delivered as soon as August.

In December 2015 Vale sold four VLOCs to a consortium led by ICBC Financial Leasing.

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Donal Scully

With 28 years experience writing and editing for newspapers in the UK and Hong Kong, Donal is now based in California from where he covers the Americas for Splash as well as ensuring the site is loaded through the Western Hemisphere timezone.

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