Tokyo: Mitsui O.S.K. Lines, Ltd. (MOL) has announced an agreement with China's Baosteel Group Corporation to further strengthen the companies' cooperative relationship. The agreement was reached at a meeting last week between MOL President Ashida and Baosteel President He Wenbo at Baosteel headquarters in Shanghai.
"In the process of consolidation with other steel mills in China, Baosteel may gradually increase import of iron ore imports in the future, and transport needs may continue to grow," Baosteel said.
President Ashida told Baosteel, "We emphasize a long-term relationship, and pledge to provide a reliable, economically efficient fleet."
At the end of the meeting MOL presented a model of the 300,000-ton iron ore carrier Baosteel Elaboration to Baosteel. The ship was completed in June 2009 at Universal Shipbuilding Corporation's Ariake Shipyard in Japan, and has since been on long-term contract to Baosteel. [20/10/09]
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