NYK firms up ties with Castle Peak
Japanese shipping line, Nippon Yusen Kaisha has strengthened its relationship with Hong Kong electricity utility Castle Peak Power with a deal lasting up to eight years to transport steaming coal.
Two bulk carriers will be used to transport coal mainly from Indonesia to Hong Kong"s Castle Peak power station starting this month. The contract follows similar deals stretching back more than 30 years since NYK first began transporting coal to the Castle Peak facility in 1981.
NYK previously used two capesize vessels - the 1990-built 151,418 dwt Castle Peak and the 151,410 dwt Lady Kadoorie - that were dedicated to ship coal to Castle Peak.
Chartered-in tonnage was also used to supply coal to the power station which is owned by Castle Peak Power, a 60:40 joint venture between ExxonMobil Energy and CLP Power Hong Kong.