STX Pan Ocean

STX Pan Ocean: Co. announced that it has entered into a Contract of Affreightment (COA) with Fibria Celulose for the transportation of woodpulp at sales scale of around US$246m. The loading of woodpulp will take place in Brazil. The duration of the contract is for 3 yrs from 1st Jan 2012. We note that the COA could mark an entry into the business of woodpulp transportation.