MOL Strengthens Ties with China’s Baosteel
Mitsui O.S.K. Lines, Ltd. announced an agreement with China’s Baosteel Group Corporation to further strengthen the companies’ cooperative relationship. The agreement was reached at an October 13 meeting between MOL President Ashida and Baosteel President He Wenbo at Baosteel headquarters in Shanghai. MOL presented a model of the 300,000-ton iron ore carrier Baosteel Elaboration to Baosteel as well. “In the process of consolidation with other steel mills in China, Baosteel may gradually increase iron ore imports in the future, and transport needs may continue to grow,” Baosteel said.
Largest Shipbuilding Enterprise in South China
According to a report from People’s Daily Online, three major central state-owned enterprises (SOEs), China State Shipbuilding Corporation (CSSC), Baosteel Group Corporation and China Shipping (Group) Company, have joined hands to establish CSSC Guangzhou. With a registered capital of $0.4b, it is jointly funded by CSSC, Baosteel and China Shipping with their investment accounting for 60, 30 and 10 percent respectively. (Source: People's Daily Online)
