Eduardo Bartolomeo (second from left), CEO of Vale and Mao Jianhong (third from left), chairman of Ningbo Zhoushan Port Co, witness the signing of the two companies' memo of understanding. [Photo/zhoushan.cn]

A memo of understanding to ramp up important business links was jointly signed by Ningbo-Zhoushan Port, the world's largest port in cargo throughput and Vale SA -- the world's biggest iron ore producer -- at Shulanghu transfer port in Zhoushan on Aug 16.

According to the memo, the two companies will deepen their cooperation to supply Chinese customers with Vale's premium iron ore products and they plan to work together establishing operations in the areas of logistics and supply chains.

Shulanghu transfer port, under the jurisdiction of Ningbo-Zhoushan Port, has become China's largest port for transferring iron ore with annual cargo throughput of over 100 million metric tons, thanks to its existing business with Vale.

The memo strengthens Vale's ties with Ningbo-Zhoushan Port, which is one of the most important cooperative partners of Vale in China, according to a statement by Eduardo Bartolomeo, CEO of Vale.

The two companies enjoy broad space and huge potential for further cooperation, said Mao Jianhong, chairman of Ningbo Zhoushan Port Co.

Representatives from Vale visited the transfer port while accompanied by members of staff from Ningbo-Zhoushan Port. They also boarded and inspected a 400,000-ton ship berthing at the port.

A Chinese juniper tree, which symbolically stands for friendship between the two companies, was planted at the port by the two sides.