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March 16, 2004 MOL Signs Deal to Transport Iron Ore for
China's Maanshan Iron & Steel
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| Term: | 10 years from January 1, 2005 |
| Cargo: | Iron ore |
| Vessel: | Cape-size bulk carrier |
| Loading Port: | Tubarao or Ponta da Madeira, Brazil |
| Discharging Ports: | Shanghai/Qingdao area ports |
| Annual transport volume: | Approx. 500,000 tons |
Profile Maanshan Iron & Steel Co.,
Ltd.
Founded in 1953, Maanshan Iron and Steel
is one of China's leading iron and steel
producers. It produced 5.38 million tons
of crude steel in 2002 and its annual ore
imports from Brazil, Australia, and other
countries, total about 6 million tons. The
company built a new blast furnace in September
2002. When it begins full operation, Maanshan's
total production volume will reach 8 million
tons a year, placing it among China's five
leading producers.
MOL aggressively promotes natural resource
transport to China's rapidly growing iron
and steel industry. The company has already
concluded several long-term transport contracts
with the country's largest steel producer,
Shanghai-based Baoshan Iron and Steel. This
new long-term transport contract reflects
MOL's strategy - allocation of management
resources in natural resource and energy
transport and expansion of overseas business.
The company will continue efforts to meet
a broader range of customer needs in Japan
and around the world, by offering reliable,
high-quality service.