Mitsui to ship coal for Mitsubishi Chem, Nisshin Steel

Monday, 08 February 2010 11:56

Mitsui O.S.K. Lines Ltd has concluded 10-year coking coal shipping contracts with Mitsubishi Chemical Corp. and Nisshin Steel Co. Under the agreements,

the shipping company will make 10 round-trip circuits annually between eastern Australia and Sakaide harbor in Kagawa Prefecture using a recently launched 100,000-ton bulk freighter, transporting 1 million tons of coal each year.

Mitsubishi Chemical turns the coal into coke at its Sakaide steelworks, which supplies steelmakers in Japan, Europe and the U.S.

Nisshin Steel, Japan's fifth-largest steelmaker, operates two blast furnaces at its Kure Works in Hiroshima Prefecture but has no coking furnace.

Source: Trading Markets