Nippon Steel to increase shipments to China
According to recent news in the market, Nippon Steel Corp (NSC) and certain other Japanese steel producers are planning to increase their shipments to China to meet demand in the country. NSC will reportedly begin to use three ships, each of which will have a capacity of 300'000 tons by 2009. Moreover NSC will share the ship capacity with Anglo-Australian Rio Tinto Plc to reduce costs. Japanese JFE Steel Corp will add twenty one ships by 2009.