TOKYO—Mitsui O.S.K. Lines, Ltd. (MOL, President: Akimitsu Ashida) today announced that MOL as the first overseas ship-owners signed a long-term iron ore transport contract with Jiangsu Shagang Group Co., Ltd. of China on October 19. MOL will transport iron ore from Australia and Brazil to Jiangsu Shagang.

The 207,000-ton iron ore carrier to be constructed at the Universal Shipbuilding Corporation for this contract is scheduled for completion in late 2011.

About Jiangsu Shagang Group Co., Ltd.
Founded in 1975, Jiangsu Shagang is one of China’s leading steel makers and among the largest of private steel makers. In 2008, its annual ore production was 23.3 million tons, and its annual iron ore imports (from Brazil, Australia, etc.) were 16.34 million tons.
The Jiangsu Shagang Group has aggressively expanded business, and its production ranks among the top five Chinese steel companies.

Specifications of the newbuilding vessel
Deadweight: 206,500 MT
Length: 299.7m
Breadth: 50m
Draft: 18.20m

Background and future approach
Jiangsu Shagang Group accepted MOL’s proposal of an efficient large-scale ship that would conform to Jiangsu’s Shagang berth at Zhangjiagang Port. This proposal led to the conclusion of the long-term contract.

MOL makes a point of meeting a variety of needs in iron ore transport, which is expected to be an active seaborne trade into the future, and is aggressively involved in natural resources transport for steel companies in Japan and overseas.