STX agrees hefty iron ore deal

摘要

Korea's Stx Pan Ocean has announced that it has won a $5.8Bn transport deal with Vale of Brazil.rnSouth Korea's STX added that it was a 25-year agreement, starting in 2011, to transport iron ore from Brazil to China. An estimated eight VLOCs will be needed to carry the volume of iron ore, thought to stand at about 300M tonnes. STX plans to order 20-30 bulk carriers on the strength of the dry bulk trades into China, STX vice-chairman JC Lee has previously told Fairplay.