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Coscocs and Vale seal 27-year iron ore shipping transport dealCoscocs and Vale seal 27-year iron ore shipping transport deal

Newly formed conglomerate China Cosco Shipping Corporation (Coscocs) has sealed a 27-year-long contract to carry iron ore for Brazil’s state-owned mining giant Vale.

Lee Hong Liang, Asia Correspondent

March 21, 2016

1 Min Read
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The agreement, signed between the two companies in Beijing last Friday, will see Coscocs’ bulk business transport some 16m tonnes of iron ore each year.

“The signing of the agreement marks the commencement of a new chapter of the cooperation between the two companies,” the companies stated, cited by Reuters.

Coscocs was officially launched last month following the merger of China Cosco and China Shipping Group.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

 

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