2008-03-12 16:51
K Line signs 20-year CVC contract with Glovis
Kawasaki Kisen Kaisha (K Line) has announced the conclusion of a 20-year consecutive voyage charter (CVC) contract with Glovis Co., a logistics arm of South Korea's Hyundai Motor Company Group, for a dedicated very large ore carrier (VLOC) to transport iron ore. The contract is due to take effect in 2012. A 250,000 dwt ship will be assigned to annually haul about 3 million tons of West Australian iron ore to South Korea on behalf of Hyundai Steel Co.
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