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K Line in major bulker charter deal

K Line in major bulker charter deal
MAJOR Japanese shipowner ?K? Line says it has signed an en bloc deal of ten 10-year consecutive voyage charter contracts with two subsidiaries of Indian-based OP Jindal Group, JSW Steel and JSW Energy, in total worth more than US$200m a year.

?K? LINE IN MAJOR BULKER CHARTER DEAL

MAJOR Japanese shipowner ?K? Line says it has signed an en bloc deal of ten 10-year consecutive voyage charter contracts with two subsidiaries of Indian-based OP Jindal Group, JSW Steel and JSW Energy, in total worth more than US$200m a year.

The contracts are for two panamax ships starting from 2008/2009, three post-panamax starting from 2012/2014 five capesize vessels starting from 2011-2014.

The ships will be used to carry coking or steaming coal from Australian, Indonesian, South African and Chinese ports to India ?K? Line says: ?Ports of loading under these contracts could vary among several ports, but on an assumption that the coal is to be imported exclusively from Australia and Indonesia, the total transport volume for the two companies under the en bloc deal could reach around 12m tonnes per annum by 2015, when all the vessels enter service. Freight revenue from the 10 vessels is expected to be over US$200m a year.

www.TurkishMaritime.Com.tr

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