Home MarketsChartering MOL Cape Signs Long-term Iron Ore Transport Deal with a leading international mining group, Rio Tinto

MOL Cape Signs Long-term Iron Ore Transport Deal with a leading international mining group, Rio Tinto

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MOLTOKYO—Mitsui  O.S.K. Lines, Ltd. (MOL; President: Koichi Muto) today announced that its group  subsidiary MOLCape (Singapore) Pte. Ltd. (MOLCape) has concluded 20-year Freight  Service Agreement for 200, 000-ton-plus class iron ore carriers with Rio  Tinto.

Based on  the contract, MOLCape will place several large-scale carriers to  transport iron ore mainly from Australia to China.

MOLCape has independently developed  business in Singapore. Conclusion of the  long-term contract with Rio Tinto will contribute to the company’s stable  earnings, and further consolidate the foundation for business expansion in the  nation.

The MOL  Group continually strives to offer safe, reliable ocean transport services using  its advanced safe operation system to meet continually expanding demand for  resource transport.

[Outline of contract]

  • Type of contract:      Freight Service  Agreement
  • Vessels  to be placed: Large-scale bulk and iron ore carriers in the 200, 000 – 250, 000 DWT range
  • Cargo:                     Iron ore in bulk
  • Main loading ports:    Western  Australia (Dampier, Port Walcott)
  • Unloading ports:        Main ports  in China
  • Transport volume:     About 8.5 million tons at the maximum

[Outline of MOLCape]

Company name:       MOLCape (Singapore) Pte.  Ltd.

Founded:                 April, 2009

Shareholder:           MOL  100%

Business:               Ownership  and operation of dry bulk carriers (mainly Capesize), and other services related  to vessel operation

For further information, please contact:

Yasuyuki  Fukuma, General Manager

Public  Relations Office

Mitsui  O.S.K. Lines, Ltd.

Tel: +81-3-3587-7015/Fax: +81-3-3587-7705

E-mail: pblmo@molgroup.com

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