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Article: BRIEFING - ASIA SHIPPING - SEPT 22, 2009.

Article from:
AsiaPulse News
Article date:
September 22, 2009
Copyright

An executive briefing on shipping for Sept 22, 2009, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.

S. KOREA'S STX PAN OCEAN SIGNS US$5.8 BLN DEAL WITH VALE

SEOUL - STX Pan Ocean Co. (KSE:028670), South Korea's leading bulk carrier, said it has clinched a 7 trillion won (US$5.8 billion) deal with Brazil's Vale International S.A., the world's biggest iron ore producer, to transport iron ore.

Under the deal, STX Pan Ocean will transport 300 million metric tons of iron ore for Vale over the next 25 years from Brazil to China, the local ...

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