STX Pan Ocean is negotiating on transportation agreement with Vale
Published: 21 Sep 2009 18:17:09 PSTSep. 21 MetalBiz--STX Pan Ocean is negotiating with Vale on the long-term iron ore marine transport agreement, which is expected to end on September 23.
It is reported on September 21 that one spokesman of STX Pan Ocean stated on September 21 that the company is in talks with Vale SA over the long-term iron ore marine transportation agreement.
The spokesman unwilling to give his name showed that the negotiation is expected to conclude on September 23, the money amount is not in line with the local media report of 6,000bln won (around US$5bln).
He pointed out that if two sides inked the contract, STX will transport 12mln tons to 13mln tons of iron ore for Vale per year in the incoming 25 years.
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