“K” Line wins iron ore transport deal in China
'K' Line said it has concluded a long-term iron ore transport agreement with the Anshan Iron and Steel Group, based in Anshan City, Liaoning province in northeastern China.The 10-year contract calls for the Japanese carriers to transport roughly 1.5 million tons of Australian iron ore to China, using 170,000-ton capesize bulk carriers. The contract will start in October.
The Anshan Iron and Steel Group is a leading iron and steelmaker in China, with crude steel production of 23.4 million tons in 2008, the carrier said.
'It is a core company in northeastern China under the Chinese government's iron and steel industry policies,' 'K' Line said in a statement. ' 'K' Line views increase of business entries into the growing Chinese market as one of the most important targets for its business expansion plan. Following the agreement the company aims for more opportunities to be involved in the iron ore transport business in China.'
