Hanjin signs 15-year-contract with KOMIPO

By on May 3, 2010

Hanjin Shipping has signed a fifteen-year Consecutive Voyage Contract (CVC) with Korea Midland Power Co (KOMIPO), following the bidding that took place on March 16th

According to Hanjin Shipping, a panamax vessel will be deployed to transport 13 million tons of coal from Indonesia, Australia and Canada to Korea every year

The total transport volume is estimated to be 195 million tons until year 2025, generating revenue of approximately KRW 180 billion

Last year, Hanjin Shipping signed a twenty-year CVC with POSCO

With this stable income secured for the next fifteen - twenty years, Hanjin will also continue its efforts to develop new businesses with various customers in order to strengthen its position as a major bulk player

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