Hyundai Merchant wins 870 bln won deal from POSCO

SEOUL, Dec. 16 (Yonhap) -- Hyundai Merchant Marine Co., South Korea's
second-largest shipper, said Wednesday that it has won a 870 billion won (US$745
million) deal to ship materials for POSCO.

In a regulatory filing, the shipper said it would transport raw materials between
Australia and South Korea starting from 2011 for 20 years.
Hyundai Merchant will transport 3.8 million tons of iron ore and coal a year for
POSCO -- the nation's largest steelmaker.
Shares of Hyundai Merchant were trading at 27,750 won on the Seoul bourse as of
1:20 p.m., up 2.4 percent.
sam@yna.co.kr
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