STX signs 20-year deal with Posco

摘要

South Korea's STX Pan Ocean has entered into a new 20-year freight contract worth KRW500B (about US$438M) with Posco, the world's second-largest steel producer.rnSTX will deploy one capesize vessel to transport 36.3 mt of coking coal and iron ore between Australia and South Korea over the next two decades, starting from 2011.rnThis works out at just over 1.8 mt - equivalent to ten round-trip journeys an-nually - which appears am-bitious, given each voyage will take around 30 days and port congestion in the near future is set to stay high.