"K" Line has signed an agreement with Seoul-based Korea Western Power Co. for a 10-year consecutive voyage charter of a Capesize bulk carrier starting from the second half of 2011, the Japanese carrier said today.
The charter agreement calls for the ocean transport of bituminous coal from Australia, South Africa, Indonesia and Canada to South Korea for electric power generation.
KOWEPO is one of six South Korean electric power generation companies owned by Korean Electric Power Corp. (KEPCO), which imports roughly 12 million metric tons of bituminous coal annually.
The agreement is the second consecutive voyage charter for "K" Line with KOWEPO after a similar 10-year CVC with a Panamax bulk carrier concluded in May.
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