Vale to Build 12 Very Large Ore Carriers

Wednesday, September 15, 2010

Vale announced that it has entered into agreements with The Export-Import Bank of China and the Bank of China Limited for the financing to build 12 very large ore carriers with 400,000 dwt (Chinamax vessels) at the Rongsheng Chinese shipyard.

The two Chinese financial institutions will provide a credit line of up to $1.2b, which corresponds to 80% of the amount required to fund the construction of the vessels. The credit line has a 13-year total term to be repaid, and the funds will be disbursed during the next 3 years according to the construction schedule.

This agreement is part of a broader financing package for our investment program involving official credit institutions from several countries. It supports our growth initiatives to the extent that it contains proper conditions for the financing of our mining and logistics projects, such as low costs and long maturities, thus contributing to enhance their potential to generate substantial shareholder value.


 

Maritime Reporter August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

BMT Nigel Gee To Launch Project L3 at Monaco Yacht Show

BMT Nigel Gee, a subsidiary of the BMT Group, will be launching its latest innovative design, ‘Project L3’ at the Monaco Yacht Show. Building on Nigel Gee’s

Naming of M/V “SITC SHANDONG” at CSBC Shipyard

The Naming Ceremony of M/V “SITC SHANDONG” was held yesterday in Keelung Factory of CSBC Corporation, Taiwan, by SITC International Holdings Co., Ltd. (SITC International) and CSBC Corporation,

NewLead Takes Delivery of 3rd Eco-Type Bulker

NewLead Holdings Ltd.announced today that the "Newlead Castellano", a 2013-built dry-bulk eco-type Handysize vessel of 35,542 dwt, was delivered to NewLead's owned fleet on September 16, 2014.

News

BMT Nigel Gee To Launch Project L3 at Monaco Yacht Show

BMT Nigel Gee, a subsidiary of the BMT Group, will be launching its latest innovative design, ‘Project L3’ at the Monaco Yacht Show. Building on Nigel Gee’s

Naming of M/V “SITC SHANDONG” at CSBC Shipyard

The Naming Ceremony of M/V “SITC SHANDONG” was held yesterday in Keelung Factory of CSBC Corporation, Taiwan, by SITC International Holdings Co., Ltd. (SITC International) and CSBC Corporation,

Hiab's State-of-the-art Factory Opens in Poland

Hiab, part of Cargotec, celebrates today the official opening of its new state-of-the-art multi-assembly unit (MAU) in Stargard Szczecinski, Poland. The development

 
 
Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1369 sec (7 req/sec)