Vale president Murilo Fereira has decided to sell the company’s 19 VLOCs which were contracted by his predecessor Roger Agnelli.
Fereira says the ships will go as they are a drain on the company’s capital.
Vale is in “advanced negotiations” with a foreign firm to complete the deal, he told O Globo.
While no potential buyer was put forward, the sale will only go ahead with a long-term charter-back to Vale, Fereira explains.
The
