ESI seals 10 year iron ore transportation contract with Eships

July 7, 2008

July 7th (Steel Guru) – Khaleej Times reported that Emirates Steel Industries has signed a 10 year iron ore transportation contract with Eships Olderdorff Logistics. The transportation contract includes the shipping of about 2.4 million tonnes of iron ore pellets per year in Capesize bulk carriers to a deepwater anchorage point about 35 kilometers offshore from Abu Dhabi.

On behalf of ESI, chairman Mr Hussien Al Nowais signed the agreement while Mr Henning Oldendorff represented Oldendorff Carriers. Eships was represented by its chairman Mr Ahmed Saeed Al Calilly.

ESI put out a tender for door to door iron ore transportation in late 2006 for shipments to start in mid 2008. The shipping contract required innovative, competitive and reliable shipping partners. EOL is a combination of two strong shipping companies with extensive experience in bulk cargo transshipment both in the Arabian Gulf and around the world.

ESI is a subsidiary of Abu Dhabi based Basic Industries Corporation and is strategically located at the recently developed Industrial City of Abu Dhabi. The factory is the largest steel plant in the UAE, utilizing the latest rolling mill technology to produce reinforcing bars for the construction industry.

Eships is an Abu Dhabi based shipping firm controlling 11 modern tankers and bulk carriers. It is owned by Oman and Emirates Investment Holding Company, Mubadala and Abu Dhabi Investment Company.

Oldendorff Carriers is the largest German bulk shipping company controlling a fleet of over 200 ships. Oldenforff has extensive experience in bulk transportation and transhipment with project in operation world wide.

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