Pan Ocean secures 20-year COA deal from Vale

Pan Ocean secures 20-year COA deal from Vale

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

Under the contract, 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.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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