MOL in iron ore transport deal with Rio Tinto

MOL Cape (Singapore), wholly-owned subsidiary of MOL, will place several 200,000-250,000 dwt bulk carriers to transport the iron ore mainly from Australia to China. The main loading ports in Australia are from Dampier and Port Walcott.

A maximum of approximately 8.5m dwt of the commodity will be carried each year.

“Conclusion of the long term contract with Rio Tinto will contribute to the company's stable earnings, and further consolidate the foundation for business expansion in the nation,” MOL said.