Shanghai: China Shipping (Group) Company has signed a strategic framework agreement with Wuhan Iron & Steel (Group) to providing five dry bulk carriers to ship iron ores to Chinese steelmaker. The vessels, of which two are 300,000dwt and three are 230,000dwt each, will ship 5m tonnes of iron ore to the company annually for twenty years. The move comes as dry bulk prices continue to surge to historic highs. [24/10/07]
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