Vale to more than double sail-equipped iron ore fleet
Vale plans to expand its fleet of sail-equipped vessels to at least 20 over the next three years. The move aims to cut fuel costs and bunker price volatility.
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VALE SA will expand its sail-equipped iron ore fleet to 20 vessels within three years to cut fuel costs. The expansion more than doubles the current fleet of eight ships operating from Brazil. Lowering shipping expenses helps the miner compete with rivals in Australia while hedging against volatile bunker fuel prices.
