South Korean dry bulk shipper STX Pan Ocean Co. is expected to sign a KRW6 trillion ($5 billion) contract to ship iron ore for Brazilian mining and metals company Vale SA (VALE), online news provider Edaily reported Sunday. STX and Vale are fine-tuning details of the contract, the report said, just citing the shipping industry.
Under the contract, STX Pan Ocean will annually ship 12 million to 13 million metric tons of iron ore over the next 25 years for Vale, it said.
Under the contract, STX Pan Ocean will annually ship 12 million to 13 million metric tons of iron ore over the next 25 years for Vale, it said.