Tokyo: Nippon Yusen Kaisha has entered into another long-term contract with China's leading steel mill Baoshan Iron & Steel Co, for the transport of iron ore from Western Australia over a period of 12.5 years. The contract calls for transporting 1.7 million tons of iron ore per year from Western Australia to China for two and a half years from July 2006 to the end of 2008, and 2.3 million tons per year for 10 years from 2009. For this transport, NYK plans to deploy a bulk carrier currently in operation until the end of 2008 and a 230,000-ton bulk carrier, to be newly built, from 2009. In 2003, NYK became the first Japanese shipping firm to conclude a long-term contract with Baoshan Iron & Steel for the transport of iron ore from Western Australia. Then in 2005, NYK entered into a long-term contract with the same Chinese steelmaker for the transport of iron ore from Brazil. [14.07.06]
Copyright © 2023. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited.
