MOL Cape signs long-term iron ore transport deal with Rio Tinto

MOL (President: Koichi Muto) announced that its group subsidiary MOL Cape (Singapore) Pte. Ltd. (MOL Cape) has concluded a 20-year Freight Service Agreement for 200,000-ton-plus class iron ore carriers with Rio Tinto.

Based on the contract, MOL Cape will place several large-scale carriers to transport iron ore mainly from Australia to China.

MOL Cape has independently developed business in Singapore. Conclusion of the long-term contract with Rio Tinto will contribute to the company's earnings, and further consolidate the foundation for business expansion in the nation. < Korea Shipping Gazette >