NS United Kaiun Kaisha, Ltd. (NSU) has entered into a 25 - year contract of affreightment to transport Brazilian iron ore with the world’s largest iron ore producer Vale on December 9 th, 2016, the company said in its press release.
The contract comprises transportation of an estimated volume of 40 million tons throughout the contract years by NSU’s new - built 400,000dwt eco - type ore carrier and will commence in the second half of 2019 on the major service route between Brazil and China.