Pan Ocean has secured a new long‑term charter contract for a Very Large Crude Carrier, reinforcing its presence in crude oil transportation across the Middle East, Asia and global routes. The deal, worth about KRW 148.2 billion, represents 2.73% of the company’s latest annual consolidated sales, indicating a material but manageable expansion of contracted revenue.
Under the agreement with Trafigura Maritime Logistics Pte Ltd., the VLCC will be chartered for a minimum of 36 months starting December 1, 2026, with an option to extend up to 39 months on prepaid monthly terms. The contract replaces an existing charter, providing continuity of vessel employment and revenue visibility, while leaving overall proceeds sensitive to future exchange rates and any extension of the charter period.