Oldendorff Carriers has inked a 25-year coal transport and transhipment project with Vietnamese power provider Nghi Son 2 Power Limited (NS2PC).
The deal with NS2PC, a joint venture between Marubeni Corp of Japan and Korea Electric Power Corp (Kepco), will import around 100 million tonnes over the period on capesizes from Indonesia.
The coal will be offloaded on two 27,000-dwt self-unloading transhipment vessel (TSV) that Oldendorff plans to build in China.
The first will be ready to deliver cargoes in 2021.
Oldendorff will use capesizes to import coal to the northern Vietnamese province from the Indonesian ports of Balikpapan, Samarinda, Adang Bay, Muara Jawa and Muara Berau.
Last year, Oldendorff commenced a separate transhipment project at the Go Gia buoys in South Vietnam.
NS2PC this year began work on two 600 MW power generation units on the coast of Nghi Son Province in Northern Vietnam.
Both units will be completed in 2021 and are expected to consume about four million tonnes of coal per year.
