TOKYO—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%
For further information, please contact:
Yasuyuki Fukuma, General Manager
Public Relations Office
Mitsui O.S.K. Lines, Ltd.