SteelOrbis Shanghai
Two major Chinese mills, Shandong Province-based Laiwu Iron and Steel Company and Hubei Province-based Wuhan Iron and Steel Company (WISCO), have inked contracts of affreightment (COA) with British ship management company Zodiac Maritime Agencies Ltd.
By means of these new agreements, the two mills will be able to import iron ore by long-term ship leasing, thus enabling them to hedge against fluctuations in the sea transport market and to control risks more effectively.