NS United Kaiun Kaisha, Ltd. (NSU) announced on Monday that it has entered into another 25-year contract of affreightment (COA) to transport Brazilian iron ore with the world’s largest iron ore producer Vale on November 27th, 2017.
The contract comprises transportation of an estimated volume of 40 million tons throughout the contract years by NSU’s new-built 400,000dwt eco-type ore carrier and will commence in the first half of 2020 on the major service route between Brazil and China.
This COA follows the 25-year contract between NSU and Vale concluded in December 2016 which will commence in the second half of 2019.
As NSU targets a large portfolio of domestic and overseas customers in accordance with its Mid-Term Business Plan (FY 2017-2019), NSU is confident that this new long-term business will contribute to efficient and stable transport for Vale’s export expansion strategy.
Source: NSU