CMES, COSCO sign deals with Brazil’s Vale

China Merchants Energy Shipping (CMES) and COSCO have signed financial and transport co-operation pacts with Brazilian miner Vale.
The firms signed two three-party memorandums of understandings (MOUs) with Vale, while CMES also inked an expanded framework agreement with the miner for co-operation on seaborne cargo transportation and a long-term integrated logistics on 19 May.

RCL returns to black

Thai-based container shipper RCL has reported a net profit of THB174 million (USD 5.18 million) for the first quarter of 2015.
The company recovered from a net loss of THB158 million in the first quarter of 2014 despite a decline in turnover and liftings, which is the company’s core business.