STX Pan Ocean wins US$20 mln deal to ship coal

SEOUL, Feb. 4 (Yonhap) -- STX Pan Ocean Co., South Korea's biggest bulk-shipping
line, said Wednesday it has won a US$20 million deal to ship coal for a power
company.
The deal with Korea South East Power Co. calls on STX Pan Ocean to deliver 1
million tons of coal from Indonesia, Russia and other regions to South Korea for
the next three years.
In November, the shipping line also clinched a $146 million deal with Glovis Co.,
the logistics affiliate of Hyundai Motor Co., to ship iron ores for 15 years.
Shares of STX Pan Ocean were trading at 11,400 won on the Seoul bourse as of
10:30 a.m., up 6.05 percent.
sam@yna.co.kr
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