NORDEN and GNPower enter into 10-year contract for transportation of up to 24 million tons of coal

By Curious

Dampskibsselskabet NORDEN A/S has entered into a 10-year contract with the Philippine energy company GNPower Mariveles Coal Plant Ltd. Co. (GNPower) that owns and operates a modern power plant in the Bataan province on Luzon Island in the Philippines.

Largest contract in the history of NORDEN

The contract comprises transportation of 20-24 million tons of coal to the power plant and starts in the first quarter of 2017. In terms of volume, this makes it the largest contract in the history of NORDEN.

NORDEN and GNPower enter into 10-year contract for transportation of up to 24 million tons of coal

Image courtesy of Norden

The GNPower power plant in Bataan began its production in 2013, and from the start NORDEN has transported coal to the plant on behalf of an Indonesian coal producer. Going forward, NORDEN will be dealing directly with GNPower as the customer, as the power plant buys the coal from various producers in Indonesia, whereupon it will be sailed to the Philippines by NORDEN. The transports will be carried out on Panamax vessels and will involve 25-30 trips a year. Each transport will take approximately 20 days.

Commenting on the new contract, CEO Jan Rindbo says: ”We are both proud and happy that GNPower has chosen NORDEN to handle the transportation of coal to this modern power plant over the coming 10 years. It reflects that the customers know NORDEN to be a reliable and safe business partner which you can count on – also when it concerns very long-term contracts.

We look forward to extending and strengthening our collaboration with GNPower further, and we are now focusing on living up to the high expectations which GNPower and other customers can rightly have for NORDEN.”

President and COO of GNPower John Anthony Becker in comment: “We have been very impressed by the flexible and efficient service of NORDEN over the years since receiving the first shipments of coal for commissioning. We are looking forward to another 10 years of excellent service from NORDEN.”

Source: Norden