Vale inks 3B-tonne iron ore deal with South Korean shipper

Sep 24, 2009 | 09:39 AM |

Brazil's Vale has inked a deal with South Korean shipper STX Pan Ocean Co. Ltd. to transport 3 billion tonnes of iron ore to China over a 25-year period starting in 2011, an STX executive said.

The 7.06-trillion-won ($5.9-billion) agreement is the largest consecutive voyage contract in the history of shipping, according to Seoul-based STX.....

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