China's ICBC Leasing has signed a 27-year iron ore transport deal with Brazilian miner Vale that will see it order 10 huge new bulkers. The charter agreement on Friday will see its VLOCs carry about 16m tonnes of cargo per year from the first half of 2018. The deal follows similar ones between Vale and Chinese state owners Coscocs and CMES in recent weeks. The 10 ICBC vessels could be worth $850m.
