ESI seals 10-year contract with Eships Olderdorff Logistics

ABU DHABI — Emirates Steel Industries (ESI) has signed a 10-year iron ore tranportation contract with a new Abu Dhabi based joint venture Eships Olderdorff Logistics (EOL).

By A Staff Reporter

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Published: Tue 10 Jul 2007, 8:58 AM

Last updated: Sat 4 Apr 2015, 10:18 PM

The transportation contract includes the shipping of about 2.4 million metric tonnes of iron ore pellets per year in Capesize bulk carriers to a deepwater anchorage point about 35 kilometres offshore from Abu Dhabi.

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.

Shipbrokers of Paris were responsible for putting the winning combination together.

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

ESI, formerly Emirates Iron and Steel Factory (EISF), is a subsidiary of Abu Dhabi-based Basic Industries Corporation and is strategically located at the recently developed Industrial CIty of Abu Dhabi (ICAD). The factory is the largest steel plant in the UAE, utilising 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 (ADIC).

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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