S.Korean shipping line wins $297m long-term contract

STX Pan Ocean Co., South Korea’s leading bulk shipping line, said Monday that it has won a 330bn won ($297 million) deal from a South Korean power firm to transport coal for 15 years.

Under the deal with Korea Southern Power Co., STX Pan Ocean will transport 35 million tons of coal to South Korea from Australia and Indonesia starting in 2014, the company said.

So far this year, STX Pan Ocean has won shipping deals valued at around 7 trillion won.
(Source:www.longshoreshippingnews.com)