First load of SA iron ore heads for China

RAY SMUTS
FOLLOWING A new lease agreement between Kumba Resources, Cape Town-based Marine Bulk Carriers and Japanese company Sanko Shipping, the first load of South African iron ore is due in China shortly. The Sanko iron ore carrier Sanko Spark completed its loading of nearly 150 000t of ore at Saldanha recently and was expected at the port of Yantai early this month. MBC and Sanko have also concluded an agreement with BP’s shipping transport division in terms of which the fuel giant will lease for one year a tanker, the Sanko Unity. In terms of an agreement between MBC, Sanko and BP, MBC’s sister company, Marine Crew Services, will place two sea cadets aboard the Sanko Unity for training. Sanko obtained a 20% stake in MBC last year.