Vale to Sell 4 Large Iron Ore Carriers to CMES

Brazilian miner Vale said on Tuesday it agreed to sell four large iron ore carriers to China Merchants Energy Shipping Co (CMES) , as it looks to raise cash in the midst of an iron ore price slump.

 

The world's largest producer of iron ore said in a statement the details of the contract had not yet been finalised and will be released in the coming months.