* Log-In operates coastal shipping, container service
* Vale's Log-In stake worth about $106 mln -Valor
RIO DE JANEIRO Dec 27 Brazil's Vale SA
, the world's No. 2 mining company, may sell its 31
percent stake in Log-In Logistica Intermodal SA as
part of efforts to raise cash for investment, a Vale spokesman
said on Thursday.
The spokesman confirmed a report in the Valor Economico
newspaper, which said Vale's stake in Log-in is worth about 217
million reais ($106 million) at current market prices.
Log-In operates coastal container ships and shipping
services, a container port in Vitoria, Brazil, a fleet of
trucks, and facilities to move containers between trucks, trains
While the sale is under consideration, no decision to sell
the company has been made, Valor said.
Vale is in the middle of efforts to sell underperforming and
"non-core" assets to finance a major expansion of its principal
iron ore mining business. Iron ore is the main ingredient in
The Rio de Janeiro-based company would be willing to sell
the Log-In stake if a buyer agreed to maintain the company's
long-term strategy, Valor said, quoting Humberto Freitas, Vale's
director of logistics, prospecting and technology.
Log-In is one of Brazil's main domestic cargo carriers and
provides key shipping links between some of the country's major
cities. It was created in 2007 when Vale sold most of its
container shipping unit to outside investors.
Log-In's competitors include Aliança, the Brazilian
transport unit of Germany's Hamburg Sud Line, and the Mercosur
Line, the South American costal shipping unit of Denmark's
Maersk Line, the world's largest container shipping
In a separate transaction, Vale plans to sell a stake in VLI
SA, a company that owns the miner's railways and principal
ports, to a strategic partner, company officials said earlier
this year. Vale's railways and ports are focused on bulk
transport of iron-ore minerals and other commodities such as
Vale preferred shares, the company's most-traded class of
stock, rose 0.5 percent to 40.88 reais Thursday on São Paulo's
Log-In stock rose as much as 4.2 percent to 41.12 reais, its
highest price in more than eight months in Sao Paulo.
The Bovespa index of the most-traded stocks on the
BM&FBovespa fell 0.2 percent in late-morning trading.