Guinea Shipping launches operations

Guinea Shipping launches operations

   Guinea Shipping Corp. (GSC) has launched operations and secured a major contract to transport raw materials from the West African nation to customers worldwide.

   GSC is a joint venture company between Hong Kong-based Corporate Capital Consultants and Soci't' Navale Guin'enne (SNG), the state-owned shipping company of the Republic of Guinea.

   The company will focus on managing and operating dry bulk carriers to ship bauxite and alumina as well as other minerals from Guinea to international markets.

Christensen

   “We are looking to build a modern fleet and we are in the process of securing suitable vessels and financing,' said Henrik Christensen, GSC chief executive. “'We signed our first contract to deliver 5 million tons of bauxite and have entered into a long-term contract with SNG which is entitled to carry 50 percent of the production of mining companies (excluding CBG) operating in the country.”

   Guinea is the fifth-largest producer of bauxite worldwide, and has the world’s largest reserves according to the U.S. Geological Survey’s Mineral Commodity Summaries 2009.