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Shandong Far East Marine Group and Tangsteel Group sign long-term shipping contracts
¡¡¡¡Tangsteel Group and Shandong Far East Marine Group (FEG) recently held a ceremony to sign an imported iron ore long-term shipping contract, which states that FEG will transport iron ore imported from Australia and Brazil for Tangsteel Group.
¡¡¡¡The total contract volume is 27 million tons. The two sides have adopted an " actual cost & reasonable profit" pricing model, to be effective for a 15-year term. This cooperation is one important step towards Tangsteel Group's further control and minimisation of long-term ocean-going transportation costs, therefore ensuring sustainable development.
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