NYK to carry ShougangÆs iron ore to China
Nippon Yusen Kaisha said it has secured a 16-year contract with China's Shougang Corp. for the transport of iron ore from Western Australia.
Although NYK had previously secured a one-year contract of affreightment with Shougang to transport iron ore from Brazil to China, this new deal is the first long-term contract between the two companies.
During the first year of the contract, through the end of fiscal 2008, NYK will use existing bulk carriers for transport. From 2009, newly built bulk carriers will be used.
Shougang is ranked as the sixth-largest steel manufacturer in China. In fiscal 2008, Shougang will build a new factory in Caofeidian in Heibei province in China, and upon completion NYK will ship raw materials to this new factory.
NYK to carry Shougang’s iron ore to China
