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Iron lady New NYK bulk carrier takes up Chinese ore duty

JAPANESE line NYK has taken delivery of its new 200,000 dwt bulk carrier Bao Guo, built at the Tsu Shipyard of Universal Shipbuilding, writes Mike Grinter in Hong Kong. The ship has been contracted to transport iron ore for Chinese company Baoshan Iron and Steel. Bao Guo takes over from an older NYK-owned bulk carrier and will now transport 600,000 tons of iron ore from Brazil each year over the final 11 years of the 12-year transport agreement. NYK now has four long-term charter contracts with Baoshan. These agreements are for between 12 and 24 years. The most recent contract for 1.2m tonnes of iron ore annually was signed in February.

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