Tokyo: "K" Line has this week concluded contracts in China with steel leader Baosteel Group, as well as with Wuhan Iron and Steel Group and Beijing-based Shougang Group, for long-term carriage of Brazilian iron ore imports. The move is in line with the Japanese Group's designated dry bulk core business of carrying coal and iron ore to China.
The Baosteel contracts cover one three-year contract to move approx. 0.5m tonnes a year using a single capesize, followed by a 15-year contract to carry approx. 1.2m tons per year using a 300,000dwt ore carrier. With both Wuhan and Shougang the contracts are for five years to carry approx. 0.5m tons a year using a single capesize apiece. [15/06/07]
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