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STX Pan Ocean in $5bn pulp deal

STX Pan Ocean in $5bn pulp deal

Seoul: Reports are emerging of a mega deal secured by Korea's STX Pan Ocean whereby the line will order 20 specially designed 57,000 dwt open hatch geared bulkers and these ships will go on a 25 year charters to a Brazilian outfit.
Brazilian private company Fibria Celulose has greenlighted $5bn for STX Pan Ocean for the shipping of pulp from Brazil to the US, Europe and the Far East of up to 5m tons annually.
The ships are likely to be built at STX Dalian and collectively cost $1bn. Fibria Celulose is a Brazilian pulp and paper company created by a merger between Aracruz and VCP and is a global leader in this field. [19/10/10]

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