Seatrade Maritime is part of the Informa Markets Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.

Posco mulls purchase of Daewoo Logistics

Posco mulls purchase of Daewoo Logistics

Seoul: South Korea's largest steelmaker, Posco, has revealed that it is considering buying a local shipping company as part of efforts to secure stable shipments of raw materials and steel products, writes Asia In Focus via COMTEX. "We are reviewing a plan to buy Daewoo Logistics corp," said a Posco official. "But nothing has been decided yet ... it is an initial stage."

Daewoo Logistics, established in 1999, is a mid-sized shipping line. The company suffered a loss of 14.8bn won last year on the back of the global economic slump and falling shipping rates.

Posco spends around 700bn won ($562m) annually in exporting steel products and importing iron ore and other raw materials.  [21/05/09]