Exhibit 15.5

Deloitte Touche Tohmatsu
Av. Presidente Wilson 231-22(degree)
20030-021 - Rio de Janeiro - RJ
Brasil
Telefone: (21) 524-1281                                             DELOITTE
Fac-simile: (21) 220-3876                                           TOUCHE
www.deloitte.com.br                                                 TOHMATSU


Securities and Exchange Commission
450 Fifth Street, NW
Washington, D.C. 20549


Commissioners:


We are aware that our report dated November 1, 2001 on our review of interim
financial information of CENIBRA-Celulose Nipo-Brasileira S.A. as of September
30, 2001 and 2000, and for the nine-month periods then ended, is included in the
Registration Statement on Form F-4 filed by Vale Overseas Limited and Companhia
Vale do Rio Doce.


Yours very truly,


/s/ Deloitte Touche Tohmatsu
DELOITTE TOUCHE TOHMATSU
Independent Auditors



Belo Horizonte, Brazil, March 21, 2002