“K” Line signs deals to carry iron ore from Brazil to China
“K” Line said it has signed deals with three Chinese steelmakers to transport iron ore from Brazil to China for up to 18 years.The contracts are with Baosteel Group, China’s largest steel company, as well as the Shougang Corp. and Wuhan Iron and Steel.
Beginning later this year, “K” Line will move 500,000 tons of iron ore per year for BaoSteel for three years, then 1.2 million tons annually for the next 15 years.
The deals with Shouhang and Wuhan are for movements of 500,000 tons of steel each annually, for five-year periods beginning in 2007 or 2008.
