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Article: Japanese Shipping Company Inks 10-Year Deal with Chinese Steel Giant.
- Article from:
- Kyodo News International (Tokyo, Japan)
- Article date:
- November 8, 2003
CopyrightCOPYRIGHT 2003 Kyodo News International. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Nov. 8--TOKYO--Nippon Yusen K.K. has signed a 10-year contract with China's largest steelmaker to transport iron ore from western Australia to Shanghai from 2005, a major Japanese business daily reported Saturday. The Nihon Keizai Shimbun said the contract is the first 10-year contract with a foreign contractor concluded by China's Baoshan Iron & Steel Co.
The Chinese steelmaker faces an acute need to secure stable supply of iron ore amid growing demand for steel for the domestic construction and auto industries, the daily said. Nippon Yusen, Japan's largest shipping company, will annually transport 1.5 million to 2 million tons of iron ...
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