MOL Cape Inks Long-term Iron Ore Transport Deal with Rio Tinto
Tokyo, Feb 18, 2013 (JCN) - Mitsui O.S.K. Lines, Ltd. announced that its group subsidiary MOL Cape (Singapore) Pte. Ltd. (MOL Cape) has concluded 20-year Freight Service Agreement for 200,000-ton-plus class iron ore carriers with Rio Tinto.
Based on the contract, MOL Cape will place several large-scale carriers to transport iron ore mainly from Australia to China.
MOL Cape has independently developed business in Singapore. Conclusion of the long-term contract with Rio Tinto will contribute to the company's stable earnings, and further consolidate the foundation for business expansion in the nation.
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