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CMES Signed MOA with VALE
Date:2015-07-31 Soure:HKMW Click:


On July 30th, 2015, China Merchants Energy Shipping Co., Ltd. (CMES) and Vale Shipping Singapore Pte. Ltd. (VALE) concluded the Memorandum of Agreement (MOA). Mr. Xie Chunlin, President of CMES and Mr. Gurinder Singh, Director of Shipping & Distribution of Vale signed the MOA on behalf of each party.

This transaction is related to the Additional Strategic Cooperation Framework Agreement celebrated with VALE on May 19, 2015, which signed during the visit of China’s Prime Minister Li Keqiang to Brazil in May 2015. According to the MOA, CMES will purchase four very large ore carriers of 400,000 tons deadweight owned and currently operated by Vale. The transaction totaled US$ 448 million and the delivery of the vessels is expected to happen in September 2015.






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