“K” Line in 15-year coking coal transport deal with Indian steelmaker
Japanese carrier 'K' Line today said it has reached an agreement with India's second-largest privately owned steel manufacturer to transport coking coal over the next 15 years.'K' Line's agreement with Mumbai-based JSW Steel Ltd., call for a 15-year consecutive voyage charter of a Panamax or post-Panamax type coking coal carrier starting the second quarter of 2008. Coking coal, a key energy component for steel mills, will be transported from Australia, South Africa or China to India under terms of the agreement.
According to a statement from the carrier, JSW Steel produced 4 million metric tons of crude steel last year and also imports 4 million metric tons of coking coal.
This vessel charter agreement is 'K' Line's third long-term contract with JSW Steel's parent company, O.P. Jindal.
