"K" Line signs iron ore contracts with Baosteel

Tokyo: Kawasaki Kisen Kaisha, Ltd. ("K" Line) has signed long-term contracts with Shanghai-based Baoshan Iron & Steel to transport approximately 0.5m tonnes of iron ore annually from Brazil to China in its newly built 185,000dwt carrier over a period of three years starting later this year. It will also ship 2.4m tonnes of ore annually from Western Australia to China for a period of 10 years from the second half of 2008 in a 200,000dwt capesize newbuilding. [10/11/06]