MOL Contract with Jiangsu Shagang Group

Wednesday, October 21, 2009
(From left) Shen Wenming, Vice President, Jiangsu Shagang Group and Kenichi Nagata, Managing Executive Officer, Mitsui O.S.K. Lines, Ltd. (Photo courtesy Mitsui O.S.K. Lines, Ltd.)

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. The company signed a 10-year voyage contract to transport iron ore between West Australia/Brazil and Ningbo starting late 2011. The Jiangsu Shagang Group has aggressively expanded business, and its production ranks among the top five Chinese steel companies.

Specifications:
Deadweight: 206,500 MT
Length: 983.2 ft
Breadth: 64 ft
Draft: 59.7 ft

(www.MOLpower.com)

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