NYK gets long-term coal transport contract from Korea
NYK has won a bid to carry coal for Korea East-West Power under an 18-year charter contract.
“The newly awarded contract marks the first time that such a public corporation of South Korea has entered into a long-term contract with a foreign shipping company,” the Japanese shipping group said.
Under the contract for a period of 18 years from June 2007, a new NYK Cape-size bulk carrier will be chartered for the continuous transport of coal mainly from Australia to Dangjin for four new thermal power units scheduled to go into operation between 2005 and 2007.