Pan Ocean Set to Order Five Open Hatch Carriers

South Korean shipping company Pan Ocean has decided to order five open hatch wood chip carriers as the company secured a long-term shipping deal with Brazil-based pulp and paper firm Fibria.

In a stock exchange filing, Pan Ocean said that it would spend up to KRW 165.4 billion (USD 146.6 million) for the newbuildings contract.

Although the details of the order were not unveiled, the company informed that the construction of the new ships would start in late December 2018 and be finalized in September 2020.

The KRW 719.6 billion shipping deal signed between the parties would see Pan Ocean provide its services to Fibria over a period of a minimum of 15 years.

The transportation deal, set to come into force in February 2019, is scheduled to last until March 2035.

Pan Ocean added that the parties have an option to extend the shipping deal by up to 10 years.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Feb 2020 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 1

Eastern Mediterranean Offshore Conference and Exhibition (EMC) 2020

EMC 2020 conference will arm delegates with technical and commercial knowledge to capitalise…

read more >

2nd GREENTECH IN SHIPPING GLOBAL FORUM

Forum you will find out from the regulators, government bodies and major ports’ representatives what the near…

read more >

Belgian Offshore Days 2020

During this event, a conference will be held with focus on “Increasing value by data driven innovation…

read more >

7th Annual Arctic Exchange

Every year the Exchange invites delegates from across the globe to come together to listen to key senior management teams…

read more >