Japanese shipping company Mitsui O.S.K. Lines (MOL) and Turkish steel and iron producer Tosyalı Holding will be working on finding ways to develop a partnership for the transport of raw materials and steel products in Turkey and overseas.
The companies will study the possibility of a partnership that could also include the construction of a port in southeastern Turkey and further cooperation on new Tosyalı business ventures.
Tosyalı is a major Turkish steel company, with a 2018 output of over 10 million tons, and is developing its business both in Turkey and around the world. Last year, the company started operation of world’s largest direct reduced iron (DRI) plant in Algeria.
MOL announced the potential shipping arrangement just days after revealing it had entered into a deal to jointly own and operate a FSRU and a floating power plant with Turkey’s floating power plant company Karpower International (Karpowership).
Developed under the co-brand KARMOL, the joint undertaking will be the first LNG-to-Powership project in Mozambique.