Pan Ocean Co., Ltd. Announces Long Term Voyage Contract of Iron Ore
January 25, 2019 at 04:18 am
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Pan Ocean Co., Ltd. announced that the company has entered into a Contract of Affreigtment (COA) with Vale International SA on 24 January 2019, for the transportation of Brazilian iron ore at estimated total volumes of about 8.12 million metric tons. The duration of the COA is for 5 years from the second half of 2020. The main objective of the Company for entering into this COA is to secure a stabilized source of revenue and profit.
Pan Ocean Co Ltd is a Korea-based company principally engaged in the provision of sea transportation services. The Company operates its business through two segments. The Shipping segment is engaged in the provision of sea transportation services using bulk carriers and non-bulk carriers. The bulk carriers include break bulk liners, trampers and large bulkers. The non-bulk carriers include tankers, containers, gas carriers and heavy lifters. This segment is engaged in the sea transportation of cargoes such as iron ores, coals, grains, containers, crude oil, crude oil, automobiles, liquefied natural gas (LNG), as well as special cargoes. In addition, this segment is engaged in the grain business, which purchases and sells grain to importers. The Other segment is involved of ship management business and leasing business.
PAN OCEAN CO., LTD. 
