STX Pan Ocean Secures Pulp Freight Contract

20 October 2010 (Last Updated October 20th, 2010 18:30)

STX Pan Ocean has won a KRW5.6tn ($5bn) contract from Brazilian pulp producer Fibria Celulose to annually transport up to five million tons of wood pulp. Under the deal, the South Korean firm will ship wood pulp to China, Europe and the US for 25 years from 2012. According to repo

STX Pan Ocean has won a KRW5.6tn ($5bn) contract from Brazilian pulp producer Fibria Celulose to annually transport up to five million tons of wood pulp.

Under the deal, the South Korean firm will ship wood pulp to China, Europe and the US for 25 years from 2012.

According to reports, STX Pan Ocean is will order 20 57,000dwt open-hatch geared bulkers.

The ships are likely to be built at STX Dalian for $1bn.