STX Pan Ocean, Korea, has been awarded a US$20 million contract with Korea South-East Power Co.

The Korean power company has signed a three-year contract of affreightment (COA) with STX Pan Ocean, for the transport of one million tonnes of steaming coal per annum.

STX Pan Ocean will load material in several countries including Indonesia, Russia and China. The company also recently won a 15-year contract from Hyundai Motor’s logistic affiliate, Glovis, to ship iron ore.