Seoul: Hyundai Merchant Marine and ShangDong Far East Marine have signed a $315m contract to ship iron ore to China. The two companies will transport 23m tonnes of iron ore to China over the next 15 years for Hebei Steel Group. The shipments include 1.5m tonnes of iron ore a year from Brazil and Australia. "China has the largest steel market in the world, and we will continue to expand our market presence there," said HMM. [13/04/10]
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