Pan Ocean, Vale ink 5-year iron ore transportation deal

Monday, 28 January 2019 00:05:24 (GMT+3)   |   Sao Paulo
       

Pan Ocean said it will transport iron ore for Vale for a five-year period. The contract, known as contract of affreightment (COA), was signed with Vale on January 24, 2019.

The five-year contract starts from the second half of 2020. The company said the goal of the CoA was to secure a “stable” source of revenue and profit.

Pan Ocean said it will transport 8.12 million mt of iron ore for Vale.


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