Industries Qatar’s affiliate Qatar Steel Company has signed an agreement with C Transport Maritime of Monaco for the shipment of about 3.36 million tonnes of iron ore from Brazil and Sweden. Under the deal, CTM would ship iron to QASCO three years from 2007.

CTM is a Monaco based ocean transports service company, wholly owned by C Transport Holding Ltd. CTM manages two dry cargo transport pools, which are active in the Cape and Panamax sectors and also commercial managers for DBCN Corporation Handymax operation. CTM commercially manages about 120 vessels and in 2005 had a turnover of about $1bn and carried about 70mn tones of cargo.