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Article: DOCENAVE Sells Six Ships.

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PR Newswire
Article date:
September 20, 2001
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RIO DE JANEIRO, Brazil, Sept. 20 /PRNewswire/ --

Companhia Vale do Rio Doce (NYSE: RIOpr) (CVRD) announces that its subsidiary, Navegacao Vale do Rio Doce S. A. - DOCENAVE (DOCENAVE), sold its six Brazilian flag ships, with a total capacity of 592,240 DWT, to Empresa Naviera Elcano, S. A. (ELCANO), the largest Spanish shipping company.

The value of this transaction is US$53 million. Payment will be made upon delivery of the ships, slated to occur between ...

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