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Brazilian miner Vale sells two ships to Bocomm for $178 mln
December 7, 2017 / 9:32 PM / 11 days ago

Brazilian miner Vale sells two ships to Bocomm for $178 mln

SAO PAULO, Dec 7 (Reuters) - Brazilian miner Vale SA concluded on Thursday the sale of two ships to Shanghai’s Bank of Communications Finance Leasing Co Ltd (Bocomm) for $178 million.

In a regulatory filing, Vale said the sale concludes the divestiture of its fleet of 19 very large ore carriers, known as VLOCs, as part of an effort to strengthen its balance sheet and refocus on core assets. (Reporting by Gram Slattery; Editing by Lisa Shumaker)

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