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VALE Vale SA

12.16
-0.01 (-0.08%)
Pre Market
Last Updated: 12:20:52
Delayed by 15 minutes
Name Symbol Market Type
Vale SA NYSE:VALE NYSE Depository Receipt
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  -0.01 -0.08% 12.16 1,973 12:20:52

Yangzijiang Shipbuilding Gets ICBC Order to Build 6 Ore Carriers for US$510 Million

13/04/2016 3:54am

Dow Jones News


Vale (NYSE:VALE)
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   By Gaurav Raghuvanshi 
 

SINGAPORE--Yangzijiang Shipbuilding (Holdings) Ltd. (BS6.SG) on Wednesday announced an order worth US$510 million from the leasing unit of International and Commercial Bank of China Ltd. (1398.HK 601398.SH) to build six very large ore carrier vessels.

The orders from ICBC Leasing are for six 400,000 deadweight tonnage ore carriers that will be delivered between 2018 and 2019, Yangzijiang said in a statement to the Singapore Exchange.

The orders are part of 30 such vessels placed by major Chinese ship owners, including ICBC Leasing, after a deal with Vale S/A to transport iron from Brazil to China over a period of up to 27 years, Yangzijiang said. The other orders were placed with Chinese state-owned shipbuilders, it added.

 

Write to Gaurav Raghuvanshi at gaurav.raghuvanshi@wsj.com

 

(END) Dow Jones Newswires

April 12, 2016 22:39 ET (02:39 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.

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