Vale said on Friday that the Chinese shipowner had signed a "framework agreement for strategic cooperation in iron ore shipping" in Beijing.
The Brazilian giant has agreed to take the ships for 25 years to shift cargoes from Brazil to China, in a move similar to that signed by Vale and Cosco earlier this month.
Cosco will also order 10 Valemaxes, but in addition it will take over ownership of four existing 400,000-dwt VLOCs from Vale and charter them back over 25 years.
TradeWinds
