The Brazilian company Vale, which is world’s leader in mining operations and ore carrying contracted a deal to sell 10 VLOCs (Very Large Ore Carriers) to the Turkish maritime transport company Polaris Shipping. The price of the deal is 600,000,000 USD and the delivery of the vessel will be done fictively next month. In fact the Brazilian mining giant Vale will charter the same ships for operations and actually the maritime transportation of iron ore will be outsourced to the Turkish company. The amount from the deal will stabilize the financial situation of the company and will help for modernizing of the mining technology and research of new fields. The outsourcing of the maritime transport will give to the mining giant ability to operate with enough capacity vessels and to stay away from management of large fleet.
Vale outsourced maritime transportation by selling 10 VLOCs
