Khaleej Times recently reported that Emirates Steel Industries has signed a 10 year iron ore transportation contract with Abu Dhabi based JV Eships Olderdorff Logistics.

Emirates Steel put out a tender for iron ore transportation in late 2006 for shipments to start in mid 2008. 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.

Emirates Steel, formerly Emirates Iron and Steel Factory are a subsidiary of Abu Dhabi based Basic Industries Corporation and is located at the recently developed Industrial City of Abu Dhabi.

Eships Olderdorff is a combination of two strong shipping companies with extensive experience in bulk cargo transshipment both in the Persian Gulf and around the world. 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.