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Coal increasingly attractive for utilities, says NYK

Tokyo: Nippon Yusen Kaisha has secured a five-year charter contract with EDF Trading. A new Namura-built 175,000 dwt capesize will be deployed this year. This is the third, long-term charter contract for a bulk carrier that the NYK Group has secured with a European power supplier. 'As a result of the recent rise in petroleum prices, many electric suppliers around the world are focusing on fossil fuels such as coal, which is abundant and cost-efficient. Thus, the transport of coal is expected to increase,' NYK said in a statement. EDF Trading is part of the EDF group, Europe's largest power utility.  [18/07/06]

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