Singapore: Signs of success for Japan’s Mitsui OSK Lines big bulker focus on Singapore are growing.
Subsidiary MOL Cape (Singapore) has just 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,” MOL stressed in a release.
Describing the Lion Republic as “Asia's shipping center”, MOL said at the end of January it would accelerate expansion of its dry bulk business in Singapore, describing the city state as “the trade center for emerging markets”. [15/02/13]
