MOL inks ore carrier deal with Vale

摘要

Japan's Mitsui O.S.K. Lines Ltd. announced last month that it had signed a long-term transport contract with Brazilian mining giant Vale International SA, a subsidiary of Vale S.A., for two very large ore carriers (VLOCs) on November 18. Two 300,000 DWT-class newbuilding vessels, which will be constructed at Japan's Universal Shipbuild- ing Corporation and slated for completion in 2012 and 2013, will serve the Vale-China shuttle service, transporting iron ore for 25 years. Long-term contracts with stable and large iron ore mining companies will help secure cash flow stability for MOL and allow the company to develop more stable portfolio strategies as it moves ahead.