Loading ...Vale, China in talks to build 50 giant bulk carriers — report
Iron ore giant Vale (NYSE:VALE), the world’s No. 1 producer of the steel-making material, is said to be negotiating the manufacture of 50 giant bulk carriers with Chinese shipbuilders.
According to Wall Street Journal, the Rio de Janeiro-based miner aims to increase its fleet of mega ships, the world’s biggest bulk ore carriers, to transport iron ore from Brazil to China.
The newspaper added that China Cosco Holdings, ship financier Shandong Shipping Corp., ICBC International Leasing Ltd. and China Merchants Energy Shipping are all involved in the ongoing negotiations.
more http://www.mining.com/vale-china-in-talks-to-build-50-giant-bulk-carriers-report/