STX Pan Ocean wins 289 bln won shipping contract

SEOUL, Oct. 11 (Yonhap) -- STX Pan Ocean Co., South Korea's leading bulk shipping line, said Tuesday it has landed a 289 billion won (US$248 million) deal to transport wood pulp for a Brazilian firm.
Under the deal with Fibria Celulose SA, STX Pan Ocean will transport wood pulp to China, Europe and the United States for three years starting in 2012, the company said in a regulatory filing.
Shares of STX Pan Ocean were trading at 8,490 won on the Seoul bourse as of 2:10 p.m., up 0.83 percent.
Fibria Celulose is the world's largest pulp producer with a market share of more than 30 percent. The Brazilian firm's annual sales reach $4 billion.
Last year, STX Pan Ocean won a separate 5.6 trillion won shipping deal with Fibria Celulose.