A long-term transport agreement advances iron ore
cooperation between China and Brazil.
ICBC Leasing and VALE, the world’s largest iron ore producer, signed a transport agreement for the 27 years period on April 8th. As of the first half of 2018, ICBC Leasing via its overseas controlled entity will transport 16 million annual tons of iron for VALE.
To implement the contract, ICBC Leasing signed a 4 VLOCs construction agreement with China Shipbuilding Industry Corporation’s subdivisions the same day. Another 6 VLOCs were contracted from Yangzijiang Shipbuilding, vessels to be delivered in 2018.
With this project, ICBC Leasing provides comprehensive services to global customers, while simultaneously supporting the domestic shipyards industry. Furthermore, such agreement plays an important role in strategic resources’ transportation safety, raw materials’ cost reduction as well as a sustainable optimization of the domestic shipping industry.