RUSAL and Maersk Line Sign Letter of Intent
UC RUSAL, a large global aluminum producer, and Maersk Line, the world’s largest container shipping company, have signed a three-year letter of intent for long-term cooperation in the maritime transportation sector.
Under the agreement, RUSAL and Maersk Line have agreed to cooperate for the long-term with regard to cargo container shipments of RUSAL’s products, particularly aluminum and alloys, by Maersk’s container fleet and ships.
The cargo volume is estimated to be up to 10,000 containers per year. The agreement is valid for three years with the possibility of further extension.
“The signing of this agreement is a confirmation of the mutual intentions to build a long-term strategic partnership between RUSAL and Maersk Line,” said Vladislav Soloviev, RUSAL CEO. “The aim of the agreement is the joint search for the most optimal logistic solutions aimed at optimizing costs for both parties.”
“This agreement is of great significance toward the upcoming celebration of our 25th anniversary operation in Russia in 2017,” noted Tom Hyldelund, Managing Director of Maersk Line in Russia. “After evaluating some noticeable milestones in Maersk Line’s history in the local market, we are pleased to establish a partnership with RUSAL, which will commence growth and development opportunities.”