Hanjin Shipping to sign 15-year-contract with KOMIPO

Hanjin Shipping signed a 15-year CVC (Consecutive Voyage Contract) with KOMIPO (Korea Midland Power Co., Ltd.) today after the bidding that took place back on March 16th. 

According to Hanjin Shipping, a panamax vessel will be deployed in the transportation of 1.3 million tons of coal from Indonesia, Australia and Canada to Korea on annual basis. The total transport volume is estimated to be 19.5 million tons until year 2025 creating revenue of approximately KRW 180 billion.

Hanjin Shipping comments, "We are very pleased with this outcome as we have secured a stable income for the next 15 years through this consecutive voyage contract. We look forward to continuing our efforts to strengthen our cooperation and partnership with KOMIPO in future."

Meanwhile, Hanjin Shipping is continuing its efforts to develop new businesses with various customers in order to make presence as a major bulk player. Last year, Hanjin Shipping signed consecutive voyage contract with POSCO.

(Source: www.schednet.com)