HMM signs W4.7tr long-term shipping deal with Brazil’s Vale

HMM said Tuesday it signed a 4.7 trillion won ($3.5 billion) long-term shipping contract with Vale, Brazil’s major mining company. Under the agreement, HMM will deploy eight 210,000-ton Newcastlemax bulk carriers under 25-year contracts per vessel starting in 2030. This marks HMM’s third major deal