ANGLO American said it had renewed ocean freight contracts with Vuka Marine, a joint venture involving a South African firm, which accounts for about $30m in annual freight spend, the UK-listed business said in an announcement.
Vuka Marine is a joint venture between Via Maritime Holdings of South Africa and Kawasaki Kisen Kaisha of Japan. Under these freight contracts. Anglo American transports bulk iron ore and coal products to its customers around the world through the joint venture.
“Over the past two and half years, our partnership with Vuka Marine has allowed us to create additional value through our commercial shipping activity,” said Peter Whitcutt, CEO of Marketing for Anglo American. The renewal of the contract “… provides us with an opportunity to contribute towards developing South Africa’s maritime industry,” he said.
Vuka Marine operates two capesize bulkers, the Cape Enterprise and the Cape Orchid – the first merchant vessels to be registered under the South African flag since 1985.