HMM Co., Ltd. (011200) signed a ₩4.7 trillion long-term shipping contract with Vale, Yonhap reported Tuesday. Vale is Brazil's largest mining company and the cargo owner.
The contract covers transportation of iron ore over 25 years. HMM announced the agreement on September 8 and identified Vale as the direct counterparty. The candidate report described the arrangement as a long-term cargo contract.
The report did not provide the number of vessels assigned to the service. It also did not state the first loading date or annual cargo volume. The stated total contract value is ₩4.7 trillion. The company's market capitalisation was ₩19.9 trillion at Tuesday's close.
kstock reads DART every morning and writes up what moved — the contract, the buyback, the number that does not add up. The daily post and a Saturday roundup, by email.
| Symbol | Last Price |
|---|---|
| 011200HMM Co., Ltd. | ₩21,150 -1.4% |