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Hanjin grabs another coal contract

Hanjin grabs another coal contract

Seoul: Hanjin Shipping announced that it signed a 15-year Consecutive Voyage Contract (CVC) with Korea Midland Power (KOMIPO) today after the bidding, which took place back on May 7th.
According to Hanjin Shipping, a capesize vessel will be deployed in the transportation of approximately 1 million tons of soft coal annually starting from the 3rd quarter this year to the 3rd quarter of year 2025. The total transport volume is estimated to be around 15 million tons creating total revenue of approximately KRW 190 billion.
Besides signing CVCs with Glovis and Hyundai Steel in 2008 and with POSCO last year, the company is operating 24 dedicated vessels for POSCO, 11 for KEPCO and 2 for Hyundai Steel.  [04/06/10]


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