31 Jan 2019
Dampskibsselskabet NORDEN A/S has signed a 10-year Panamax Contract of Affreightment (COA) with Indian utility firm Sembcorp Energy India Ltd.
From 1 April 2019 until 31 March 2029 NORDEN will carry out transportation of steam coal in Panamax shipments totalling 12 million tonnes over the decade.
A growing market presence
Demand for energy in India is on the rise in line with the country’s economic expansion. Sembcorp Energy India Ltd is a leading independent power producer in India, which owns and operates two coal fired supercritical power plants near the port of Krishnapatnam in East Coast India.
“With this contract we are proud to have secured a long-term agreement with Sembcorp, and for Sembcorp to trust us in delivering our high level of service over the coming decade, strengthening our already close relationship,” says Jan Rindbo, CEO, NORDEN. “This contract not only allows us to show our commitment to growing our presence in India, but also enables us to position vessels across the load and discharge port regions, where they can be deployed to fulfil other contracts.”
From Indonesia and South Africa to India
The contract covers transport from various load ports in Indonesia and South Africa to the discharge port of Krishnapatnam in East Coast India.
The voyages will be carried out on both NORDEN owned and chartered vessels.
NORDEN press release