Tuesday June 30, 2009
KARACHI: Pakistan Steel Mills will import 400,000 tons iron ore from Iran, to meet its requirements. Of the 15 pre-qualified ship owners/operators, 12 had collected the documents, whereas only six parties submitted their offers for transportation of the required iron ore from Bandar Abbas to Port Qasim.
Noble Chartering, of Hong Kong, represented by Pacific Chartering, Karachi, which had quoted $14.73 per ton, was declared successful when the bids were opened on Monday morning by a committee headed by Director (Finance) Pakistan Steel in the presence of the bidders. Pakistan Steel Mills imports about 1.6 million tons iron ore, and 1.0 million tons coal annually. The iron ore is mostly imported from India to get advantage of freight. However, Indian iron ore is weaker in quality as compared to high priced Iranian or Australian iron ore.
Due to recent global crisis where majority of steel mills have either shut down their production or have reduced it to economical levels, it goes to the credit of Pakistan Steel that it has not only honoured its commitment with supplier but also continues to produce quality steel products at economical levels and competing market forces in spite of the hindrances created by outside pressure, including labour unions, etc. The freight rates achieved in the tender would further reduce the cost of raw materials being imported and result in reduction of cost for the steel products.
This would increase the sale of Pakistan Steel products, and availability of steel products at cheaper rates would encourage the construction sector, solving employment problems considerably. Other five bidders were STX Panocean Co Ltd of Korea, which had quoted $14.87/ton; Ocean Wise Services, $15.05; PNSC $16.00; Pacific Lloyds Ltd, of Malta, $17.95; and Shahdab Pty Ltd, Australia, $18.18 per ton.
(BRecorder)
KARACHI: Pakistan Steel Mills will import 400,000 tons iron ore from Iran, to meet its requirements. Of the 15 pre-qualified ship owners/operators, 12 had collected the documents, whereas only six parties submitted their offers for transportation of the required iron ore from Bandar Abbas to Port Qasim.
Noble Chartering, of Hong Kong, represented by Pacific Chartering, Karachi, which had quoted $14.73 per ton, was declared successful when the bids were opened on Monday morning by a committee headed by Director (Finance) Pakistan Steel in the presence of the bidders. Pakistan Steel Mills imports about 1.6 million tons iron ore, and 1.0 million tons coal annually. The iron ore is mostly imported from India to get advantage of freight. However, Indian iron ore is weaker in quality as compared to high priced Iranian or Australian iron ore.
Due to recent global crisis where majority of steel mills have either shut down their production or have reduced it to economical levels, it goes to the credit of Pakistan Steel that it has not only honoured its commitment with supplier but also continues to produce quality steel products at economical levels and competing market forces in spite of the hindrances created by outside pressure, including labour unions, etc. The freight rates achieved in the tender would further reduce the cost of raw materials being imported and result in reduction of cost for the steel products.
This would increase the sale of Pakistan Steel products, and availability of steel products at cheaper rates would encourage the construction sector, solving employment problems considerably. Other five bidders were STX Panocean Co Ltd of Korea, which had quoted $14.87/ton; Ocean Wise Services, $15.05; PNSC $16.00; Pacific Lloyds Ltd, of Malta, $17.95; and Shahdab Pty Ltd, Australia, $18.18 per ton.
(BRecorder)
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