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Fibria Inks $636 mln Ship Deal with Pan Ocean

Maritime Activity Reports, Inc.

March 3, 2017

Brazil's Fibria Celulose SA , the world's largest producer of eucalyptus pulp, signed a $636 million shipping deal with South Korea's Pan Ocean Co Ltd, according to a securities filing on Friday.

 
The deal, approved by Fibria's board in November, involves a so-called "consecutive voyage contract" for five ships until 2035, with an option for the pulp maker to extend the deal by five or 10 years.
 
Reporting by Brad Haynes