Pan Ocean Orders Ore Carrier Duo to Serve Vale Deal

South Korean shipping company Pan Ocean has unveiled its intentions to order two iron ore carriers on the back of a new transportation contract, the company said in a stock exchange filing.

The owner said it would be paying KRW 121.6 billion (USD 108.6 million) for the new Capesize vessels. According to the filing, the ships are scheduled for delivery from the end of September 2020 until the end of April 2021.

Pan Ocean said it decided to order the carriers to serve the newly-signed iron ore transportation contract with Brazillian mining giant Vale.

Under the KRW 126.6 billion long-term shipping deal, Pan Ocean would carry iron ore cargoes from Brazil to Yanghwa, China over a period of five years.

The transportation deal covers the period from October 1, 2020 until the end of September 2025.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Apr 2019 >>
MTWTFSS
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 30 1 2 3 4 5

GreenTech in Shipping USA Forum 2019

GreenTech in Shipping USA Forum is an event for Maritime leaders who want to unlock successful business formula of the industry!

read more >

CWC World Gas & Power Series – Brazil & the Americas Summit

CWC World Gas & Power Series: Brazil & the Americas Summit is the perfect meeting place to make contacts…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

Nor-Shipping 2019

Nor-Shipping’s conference and event programme is tailored to deliver the knowledge, value and networking to help you build your business.

read more >