Pan Ocean bags $300m coal shipment deal from Kospo
Monday, November 8 2010 - 11:16 AM WIB
South Korean shipping firm listed at the Singapore Exchange STX Pan Ocean Co., Ltd. announced Monday that it has entered into two consecutive voyage contracts (CVCs) with Korea Southern Power Co., Ltd. (Kospo) at total sales of US$300million.
The transportation of steaming coal will take place mainly from Indonesia and Australia to South Korea, the company said, adding that one of the contracts is scheduled to be effective from November 2010 and the other one from July 2014.
The duration of both contracts is for 15 years, respectively. (denny)