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Pan Ocean in for six VLOCs

Pan Ocean in for six VLOCs

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Pan Ocean has sealed a series of contract of affreightments with Brazilian miner Vale and is ordering six very large ore carriers for delivery from 2019 through to 2021.

The move is in the latest in a huge series of VLOCs Vale has contracted with Asian owners this year.

Seoul-headquartered Pan Ocean said the 27-year COA was worth $1.8bn “The main objective of the Company for entering into this COA is to secure a stabilized source of revenue and profit,” the company said in a release.

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Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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