IRON-ORE
Iron-ore major Fortescue Metals has struck a partnership deal with China Development Bank Financial Leasing Company (CDB Leasing) over the $556-million price tag for eight very large ore carriers (VLOC) currently under construction.
The finance lease facility will fund 85% of the VLOC costs for a minimum of 12 years, on highly flexible terms, including early repayment and extension options.
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