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NYK secures Chinese iron ore contract

Tokyo:  NYK has secured a 25-year charter contract with Beitai Iron & Steel Group in China for the transportation of iron ore from Brazil. For the first five years of the contract, NYK will transport a total 700,000tonnes of iron ore over four trips each year and, from the latter half of 2011, it will introduce a 300,000dwt carrier to ship about 1.2m tonnes yearly for the following 20 years. This is the fifth long-term contract NYK Bulkship (China) has concluded with Chinese steel producers since its establishment in 2003. [01/09/06]

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