Chinese Baosteel Group Chairman Xu Lejiang paid a courtesy call on NYK Line April 13 and had talks with President Koji Miyahara. Mr. Xu thanked for NYK's cooperation in undertaking transportation services for ferrous raw materials and expressed his best wishes for a sustained friendship between Japan and China, as well as progress of both countries. Mr. Miyahara also expressed his gratitude for ordering long-term transport contracts, and wished for a strong cooperative relationship to continue between the two entities. Mr. Xu has been in Japan accompanying Premier Wen Jiabao.|
NYK has four long-term transportation contracts concluded to date with Baosteel Group: a 10-year contract that started in 2004 to transport Australian iron ore, a 12.5-year one that started in 2006 to carry Australian ore, a 12-year one starting in 2007 to carry Brazilian ore, and a 24-year one to start in 2007.
Baosteel Group is currently carrying forward an expansion project to construct a 10-Mt/a steel plant in Guangdong province. NYK desires to service raw material transportation for the new steelworks as well.