Hyundai Merchant wins US$315 mln iron ore transportation deal

SEOUL, April 13 (Yonhap) -- Hyundai Merchant Marine Co., South Korea's No. 2
shipping line, said Tuesday that it and a Chinese firm have won a US$315 million
deal to transport iron ore for China's Hebei Steel Group over the next 15 years.
Under the deal, Hyundai Merchant and Shang Dong Far East Marine Group will carry
23 million metric tons of the commodity for the world's No. 2 steelmaker over 15
years starting this year, it said.
The two shippers will transport 1.5 million tons of iron ore annually from Brazil
and Australia to China, Hyundai Merchant said.
sam@yna.co.kr
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