NYK signs 25-year charter contract with Beitai Iron & Steel
Japan’s Nippon Yusen Kaisha has secured a 25-year charter contract with Beitai Iron & Steel Group Co. Ltd. to transport iron ore from Brazil to China.
For the first five years of the contract, starting this month through August 2011, NYK Bulkship (China) Ltd. will transport 700,000 tons of iron ore between Brazil and China each year using its own bulk carriers. From the second half of 2011, NYK will introduce a 300,000-ton iron-ore carrier to move about 1.2 million tons of iron ore annually between the two countries for the remaining 20 years of the contract.
