Under the agreement, Seoul-based Polaris will handle iron ore transportation from Vale's ports in Brazil to Asian markets. Industry sources note that this new contract further strengthens the existing collaboration between the two companies.
Newcastlemax-type vessels typically have a deadweight tonnage of 200,000 to 210,000 tons and are particularly favored for high-volume ore transportation. With this agreement, Vale secures long-term and reliable transportation capacity, while Polaris strengthens its position in the global shipping market.
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