The changing global trading patterns of capesizes celebrated another landmark moment recently.
Kawasaki Kisen Kaisha (K Line) revealed today its fully-laden Cape Taweelah called at Khalifa port in the United Arab Emirates on June 23 with a cargo of bauxite from Kamsar in Guinea destined for client Emirates Global Aluminium (EGA). The shipment was the first in a long-term voyage contract K Line has sealed with EGA and marks the first fully-laden cape to call at any port in the Gulf Cooperation Council area – a region that includes Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE.
EGA is equally-owned by Mubadala Investment Company of Abu Dhabi and the Investment Corporation of Dubai, which is the largest industrial company in UAE outside the oil and gas industry and the largest company jointly owned by the two Emirates. EGA began production at its new Al Taweelah alumina refinery in April.