STX Pan Ocean Wins Shipping Contract

11 November 2010 (Last Updated November 11th, 2010 18:30)

STX Pan Ocean has secured a KRW330bn ($297m) contract from South Korean power firm Korea Southern Power to transport steaming coal for 15 years. Under the contract, the South Korean bulk shipping firm will transport 35 million tons of coal to South Korea from Australia and Indonesia from

STX Pan Ocean has secured a KRW330bn ($297m) contract from South Korean power firm Korea Southern Power to transport steaming coal for 15 years.

Under the contract, the South Korean bulk shipping firm will transport 35 million tons of coal to South Korea from Australia and Indonesia from 2014.

In October, STX Pan Ocean won a KRW5.6tn ($5bn) contract from Brazilian firm Fibria Celulose to transport wood pulp, and in September it received KRW500bn ($449m) for a shipping contract from POSCO.

The firm has secured shipping deals worth KRW7tn ($6.29bn) this year.