Rautaruukki signs freight agreement with Aspo
JIT-Trans Ltd, which is owned by Finnish steel producer Rautaruukki Group and ESL Shipping Oy, a subsidiary of Aspo Group, have signed an agreement covering the sea transports of the Rautaruukki Group's raw materials in the Baltic Sea area as from the beginning of 2004. The companies released a letter of intent on July 2003. The validity of the freight agreement is seven years at a cost of €20 million per year. According to the agreement, the JIT-Trans fleet consisting of five 13'500 ton barges and two push-tugs will be transferred to ESL Shipping.