Northland Resources: Northland Engages Finnshipping to Provide
Shipping Services
(Thomson Reuters ONE) - December 14, 2009 Northland Resources Inc. (Northland) is pleased toannounce that the Company has taken the next step in managing theseaborne transportation of its iron products. Northland isdeveloping the Kaunisvaara Iron Concentrate Project in northernSweden and the Hannukainen Iron Project in northern Finland.Northland and Oy Finnshipping Ltd. (Finnshipping) have entered intoan agreement whereby Finnshipping will act as an in-house shippingdepartment for Northland. As agents for Northland, Finnshipping willmanage all of Northland's shipping activities, including the upcoming"Request for Freight". Northland will retain the right of finalapproval over all arrangements.Finnshipping is a Helsinki-based dry cargo shipbroker established in1954 and has worked in the Baltic and northern areas of Europe forover 50 years. Finnshipping will provide the necessary service toNorthland in securing reliable long term commitments within theshipping sector, and will provide the specialist advice required forconducting shipping logistics in winter conditions.By entering into this agreement, Northland will secure the necessaryworkforce and service for its shipping activities, ensuring that theCompany serves its clients in the most cost effective manner andmeets its long term strategic targets. Finnshipping will take a lowrisk approach to shipping arrangements in order to ensure that thesupply chain to Northland's clients is uninterrupted.The "Request for Freights" will be launched shortly and Northlandestimates that the first phase will be complete by Q3 2010, with theobjective of having the full shipping solution in place well in timefor Northland's first shipments in 2012.For more information on Northland Resources Inc. please visit:www.northlandresourcesinc.comFor more information on Oy Finnshipping Ltd. please visit:www.finnshipping.fiON BEHALF OF THE BOARD "Anders Hvide"NORTHLAND RESOURCES INC.For More Information, Contact:Anders Hvide, Executive Chairman, Oslo: Tel. +47 92 88 98 58Paul Marsden, VP, Marketing and Corporate Development, London: +44 7776 18 09 88Deborah Craig, VP, Northland Resources AB: +46 70 638 43 00This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 14.12.2009 - 10:08 Uhr
Sprache: Deutsch
News-ID 9586
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