Japan's NYK has clinched a 25-year contract to carry coal to Vietnam.
The shipowner said its bulkers will bring in cargoes for Van Phong Power Company, a wholly owned subsidiary of Sumitomo Corporation.
The coal will be used for a new coal-fired power station to be built there.
Shipments will begin from 2023, but no price was given for the deal.
Volumes are expected to be up to 3.4m tons per year, NYK said.
"The coal will be transported mainly from Australia and Indonesia for a new coal-fired power plant in the Van Phong Special Economic Zone in Vietnam’s Khanh Hoa province," it added.
It said it has been reported that Vietnam’s future supply of electricity may not be adequate to meet the demands of the country’s rapid economic growth, so NYK expects its efforts will help ensure a stable energy supply.
The deal is part of its plan to "meticulously control" its exposure to market conditions by maintaining and expanding long-term contracts in the dry bulk division.
