Vale to Sell 4 Iron Ore Carriers to CMES

Reuters reported that Vale (NYSE:VALE) has agreed to sell four large iron ore carriers to China Merchants Energy Shipping Co (CMES) , in a bid to raise cash.

As quoted in the market news,

The world’s largest producer of iron ore said in a statement the details of the contract had not yet been finalized and will be released in the coming months.

Click here for the full Reuters report