NYK is a leading transportation company in the world, has a transmission facility floater products to various countries. NYK and Rio Tinto signed a cooperation contract for 20 years NYK fleet use to send the production of iron ore from Western Australia to China. Rio Tinto hopes contract with NYK unutk shipping iron ore produced from the mine site in Western Australia can match schedule has been handled by Rio Tinto with customers in China.
Sebagaiman analysts expect growth in iron ore demand from China in the next few years will experience positive growth, so that Rio Tinto hopes contract with NYK can help Rio Tinto to compete to satisfy market demand for iron ore in China.
Shipping iron ore production will commence in 2013 with a 250,000 dwt ship. Expected annual volume of about 2.7 million tons. In addition to 20-year contract, three-year contract with a 170,000 dwt Capesize bulker from April 2010 was closed.
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