London, United Kingdom (PressExposure) October 22, 2009 -- 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.
[Outline of contract] The company signed a 10-year voyage contract to transport iron ore between West Australia/Brazil and Ningbo starting late 2011.
[Outline of Jiangsu Shagang Group Co., Ltd.] Founded in 1975, Jiangsu Shagang is one of China's leading steelmakers and is one of the largest private steelmakers. In 2008, its annual ore production was 23.3 million tonnes, and its annual iron ore imports (from Brazil, Australia, etc.) were 16.34 million tonnes.
The Jiangsu Shagang Group has aggressively expanded business, and its production ranks among the top five Chinese steel companies.
[Specifications of the newbuilding vessel] Deadweight: 206,500 MT Length: 299.7m Breadth: 50m Draft: 18.20m
[Background and future approach] Jiangsu Shagang Group accepted MOL's proposal of an efficient large-scale ship that would conform to Jiangsu's Shagang berth at Zhangjiagang Port. This proposal led to the conclusion of the long-term contract.
MOL makes a point of meeting a variety of needs in iron ore transport, which is expected to be an active seaborne trade into the future, and is aggressively involved in natural resources transport for steel companies in Japan and overseas.
[Outline of signing ceremony] Date: October 19, 2009 Place: Jiangsu Shagang Group Headquarters (Zhangjiagang Port, Jiangsu Province) Main attendants: Jiangsu Shagang Group-Vice President Shen Wenming MOL Managing Executive Officer Kennichi Nagata
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