HMM locks in $3.4bn Vale iron ore contract

HMM has signed a long-term iron ore transportation contract with Brazilian mining giant Vale worth approximately KRW4.7trn ($3.4bn), further strengthening the Korean carrier’s push into stable long-duration dry bulk business. The agreement will run for 25 years per vessel, with transportation commencing in 2030. It is HMM’s third major long-term contract with Vale, following two … Read full article →