Pan Ocean clinches 20-year COA deal from Vale

Pan Ocean

South Korean shipowner Pan Ocean has announced that it has entered into a 20-year contract of affreightment (COA) with Vale.

Pan Ocean will transport about 32m tons of iron ore to China and Malaysia for Vale from the fourth quarter of 2016.

Earlier this week China Merchants Energy Shipping (CMES) signed a COA with Vale to transport iron ore from Brazil to China over a period of up to 27 years, with China Cosco Shipping Corp (Coscocs) also signing a 27-year deal with Vale last week.

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