China CNR Corporation Limited （SHSE: 601299） yesterday announced that it would supply 40-ton axle load ore cars to Fortescue Metals Group Ltd. （FMG）, the third largest iron ore exporter in Australia. Both sides have inked an export agreement.
A top executive of China CNR reveals that the maximum axle load of freight cars reaches 40 tons worldwide. Larger axle load represents stronger carrying capacity. Formerly, the axle load of homemade freight cars only reached 30 tons.
By far, Chinese manufacturers have diversified their exports of freight cars and the maximum carrying capacity of their products reaches 110 tons. The ore cars exported to Australia are customized by FMG and will be used for ore transportation between mines and terminals.
From 1999, China CNR began to supply ore cars to Australia. Its customers include global leading iron ore producers Rio Tinto （NYSE: RTP） and BHP Billiton. On last Friday, China CNR climbed 2.16%, closing at CNY 8.97 per share.
Source: www.yicai.com
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