MOL to add 53 ore carriers to its fleet

MOL (Mitsui O.S.K Lines) will take delivery of 53 ore carriers between now and to early 2014 to meet rising demand for iron ore transport due to a increased steel production. The deliveries consists of four 300,000 DWT vessels, two 250,000 DWT vessels, seven 230,000 DWT vessels, one 200,000 DWT vessel, 27 170,000 DWT vessels, ten 110,00 DWT vessels and two 80,000 DWT vessels. The company has already concluded mid and long-term contracts for 40 percent of the 53 new building vessels and eventually 60 per cent of the new ships will sail under mid- or long arrangements. By the end of March 2014 the fleet will in total consist of 160 vessels (including 135 Capesize vessels and 25 Panamax vessels).