MOL to build 43 iron ore carriers

MOL to build 43 iron ore carriers    Tokyo-based Mitsui O.S.K. Lines Ltd. plans to construct 43 iron ore carriers to control 15 percent of the world’s available iron ore transport by 2010.
   Between April and mid-2010, the following vessels are scheduled for construction:
   * Five Type 300s (300,000 deadweight tons).
   * Three Type 230s (230,000 dwt).
   * Eleven Type 200s (200,000 dwt).
   * Ten Type 170s (170,000 dwt).
   * Six Type 110s (110,000 dwt).
   * Eight Type 80s (80,000 dwt).
   MOL’s current fleet involved in iron ore transport totals 114 Cape-size and Panamax bulkers. The new expansion plan will bring the Japanese carrier’s fleet to 140 vessels (110 Cape-size and 30 Panamax) by the end of 2009. Adding ships on short-term contracts and spot charters, MOL’s fleet will reach about 150 vessels.
   “Production volume of crude steel has increased along with the growth of the BRICs (Brazil, Russia, India, and China) economies, especially China. Demand for ore transport is expected to further expand as China increases its imports,” Mol said in a statement.