1. STX Pan Ocean in talks with Vale
- Author
-
Choi, Kyong-Ae
- Subjects
Vale S.A. -- Alliances and partnerships ,Vale S.A. -- Negotiation, mediation and arbitration ,Vale S.A. -- Transportation ,Shipping industry -- Alliances and partnerships ,Iron ores -- Transportation ,Banking, finance and accounting industries ,Business ,Business, international - Abstract
STX Pan Ocean Co. is negotiating a long-term iron-ore-shipping contract with Brazilian mining company Vale S.A., which could be worth up to $5 billion. For the next 25 years, STX would transport 12 million to 13 million metric tons a year of Vale's iron ore. The deal is expected to generate 200 billion won in sales annually for STX.
- Published
- 2009