Pan Ocean signs $160 million iron ore shipping contract with Vale
VALE•Pan Ocean signed a KRW 211.73 billion long-term freight contract with Vale International on Oct. 22, 2026, for iron ore shipments from Brazil to China and other destinations. The contract runs from April 16, 2027, to April 16, 2032, and represents 3.9% of Pan Ocean’s 2025 consolidated revenue.
1. Contract details
Pan Ocean signed a KRW 211.73 billion long-term freight contract with Vale International on Oct. 22, 2026. It covers iron ore shipments from Brazil to China and other destinations, runs from April 16, 2027, through April 16, 2032, and represents 3.9% of Pan Ocean’s 2025 consolidated revenue.
