Tokyo: Nippon Yusen Kaisha, Japan's second largest operator of dry bulk ships, plans to more than triple its fleet of capesizes serving India because of galloping demand for coal and iron ore in what is now the world's fastest-growing major steel market. It has a jv with India's Tata Steel, operated out of Singapore, serving the Indian market.
Indian demand for these commodities will see NYK have 15 capesizes hauling iron ore and coal to India by 2015, the same number as is currently serving China. NYK aims to have a cape fleet of 120 ships by 2013, up from the current 95. [03/01/11]
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