EDF Trading, a subsidiary of Electricite de France (EDF), Delivery of the 177,000-dwt bulker newbuilding is set for the first quarter of 2009.
The deal follows a similar agreement with Japan's NYK earlier this year.
“EDF Trading began managing a fleet of vessels and trading freight at the start of 2006 and in this short time we have very quickly built up a strong business globally in both the physical and financial markets,” says Michael Nagler, head of freight at EDF Trading.
“We are doing an increasing number of long-term time-charter deals, which is a clear demonstration of our commitment to this market.”
The company has plans to significantly expand the fleet within the next 12 months.
EDF Trading transports coal for EDF in France and the UK, and also sells freight to third parties.
The deal follows a similar agreement with Japan's NYK earlier this year.
“EDF Trading began managing a fleet of vessels and trading freight at the start of 2006 and in this short time we have very quickly built up a strong business globally in both the physical and financial markets,” says Michael Nagler, head of freight at EDF Trading.
“We are doing an increasing number of long-term time-charter deals, which is a clear demonstration of our commitment to this market.”
The company has plans to significantly expand the fleet within the next 12 months.
EDF Trading transports coal for EDF in France and the UK, and also sells freight to third parties.