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MOL Contract with Jiangsu Shagang Group

Mitsui O.S.K. Lines, Ltd. announced that MOL became the first overseas shipowner to sign a long-term iron ore transport contract with Jiangsu Shagang Group Co., Ltd. of China on October 19. MOL will transport iron ore from Australia and Brazil to Jiangsu Shagang. A 207,000-tonne iron ore carrier, to be constructed at the Universal Shipbuilding Corporation for the contract, is scheduled for completion in late 2011.