CMES seals COA deal with Vale

CMES seals COA deal with Vale

China Merchants Energy Shipping (CMES) has signed a 20-year contract of affreightment (COA) with Brazilian mining giant Vale through its subsidiary Hong Kong Ming Wah Shipping, with an option to extend the deal for additional five years.

The COA will see about 6m tons of iron ore transported from Brazil to China each year.

The signing follows a deal where CMES acquired four 400,000-dwt Valemaxes from Vale in July. It also established a subsidiary China VLOC to own and operate the vessels acquired from Vale.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.

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