Baosteel inks for sixth carrier from Mitsui OSK

Chinese Baosteel has signed a new long-term contract with Japanese transportation company Mitsui O.S.K. Lines, Ltd for its sixth iron ore carrier. The new iron ore carrier, which is to be built by Namura Shipbuilding Co., Ltd in Osaka, Japan will have a 225,000-ton iron ore capacity, and is slated for launching between late 2011 and early 2012.
The new carrier will serve for shipping Western Australian ore to Baosteel's plant in Shanghai, within the scope of a 25-year long contract of affreightment, which is to begin in June 2007.
Baosteel has previously signed contracts with Mitsui OSK for three 200,000-ton coal and iron ore carriers that started service in January, March, and April 2007 respectively, for a 230,000-ton vessel that will be launched in early 2009, and for a 300,000-ton carrier that will also go into service in early 2009. The new contract further strengthens the ongoing relationship between Baosteel and Mitsui OSK as its main provider of iron ore carriers.