Top > News Releases > Agreement with Glovis Co., Ltd. for Consecutive Voyage Charter for Iron Ore Transportation

February 29, 2008
Kawasaki Kisen Kaisha, Ltd.

Agreement with Glovis Co., Ltd.
for Consecutive Voyage Charter for Iron Ore Transportation

Kawasaki Kisen Kaisha, Ltd., Tokyo (hereinafter "K" Line) is proud to announce that an agreement was made in the end of August last year with Glovis Co., Ltd. (hereinafter Glovis), a Seoul-based logistics arm of Hyundai Motor Company Group, for a 20-year consecutive voyage charter (CVC) contract with a dedicated VLOC (Very Large Ore Carrier) to transport iron ore consigned to Hyundai Steel Company.

Outline of the charter agreement is as per below:

Agreement Consecutive voyage charter of a VLOC for 20 years commencing from 2012
Services Marine transportation of Iron Ore, from western coast of Australia to South Korea
Vessel A dedicated VLOC 250,000 DWMT

Glovis is responsible for the ocean transportation of iron ore and coking coal consigned to Hyundai Steel Company, and to serve for that purpose, the logistics company has last year fixed five long-term contracts. With this very first contract for "K" Line with Glovis, "K" Line will partly participate in the ocean transportation for Hyundai Steel Company by transporting approximately 3mtpa of iron ore.

In line with the mid-term management plan, "K" Line is accelerating its activities in overseas markets, and aims to further strengthen its presence in continuously growing Korean market.

PDF

To read the PDF files, you need Adobe Reader installed on your computer.
If you do not have it, you can get it here.

pagetop