31st Dec 2019 10:25
(Alliance News) - Evraz PLC said Tuesday its fully owned subsidiary East Metals AG signed an amendment to the transshipment agreement with Nakhodka Trade Sea Port in Russia.
Under the terms on the amended agreement, parties have agreed to decrease rates for excess volumes of transshipped coal to USD15.0 per metric tone in 2020 from USD19.0 per metric tonne in 2019.
The new rates, comparable with the rates set by the Nakhodka Port for the third parties, will allow Evraz to transship additional volumes of coal to East Asia at a lower cost, the company said.
"The cap for excess coal volume has not changed and remains at approximately 2.7 million metric tonnes," the Evraz noted.
The companies also agreed to increase by USD1.7 million the rates for transshipment of steel products.
Evraz shares were down 1.0% in London at 395.70 pence each on Tuesday.
By Loreta Juodagalvyte; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
Evraz