Korea’s Pan Ocean wins ore vessel contract

摘要

South Korean ship operator Pan Ocean hasclinched a Won 1.98 trillion ($1.82 billion)deal to transport iron ore for Brazilian miningmajor Vale to China for 27 years from 2020.The deal, struck in December and spanningJanuary 1, 2020 through August 31, 2047, isgreat news for the Korean operator but lessso for Korean shipbuilders struggling withdeclining orders.