Rio Tinto will purchase three 250,000 DWT ore carriers to transport iron ore from its mines in the Pilbara in Western Australia to customers in China and elsewhere.
The Group has also reserved rights on another two vessels of similar size. The vessels, to be built by Namura Shipyards in Japan and delivered from late 2012, will play a critical role in consolidating Rio Tinto Iron Ore's leadership position in the global market. They will help Rio Tinto build upon its natural freight advantage in Asian exports. The cost of the three vessels will be about US$315 million. China's iron ore imports have grown substantially in recent years and forecast to continue to grow strongly with the potential to more than double post 2010. To maintain and increase its share of this growth, Rio Tinto Iron Ore is expanding the capacity of its Pilbara iron ore operations to 220 million tonnes by 2009, supported by long-term contracts, hybrid contracts and spot sales.
Read More
No comments:
Post a Comment