Hanjin Shipping wins 360 bln won coal transport deal

Hanjin Shipping Co., South Korea's leading shipper, said Wednesday that it has won a 360 billion won (US$327 million) deal to ship coal for a local utility firm. Under the deal with Korea Southern Power Co., the shipper would transport 2.2 million tons of the material annually from Indonesia, Australia and Canada to South Korea starting from 2012 for 15 years. In April last year, Hanjin Shipping also won a 184 billion won deal to ship coal for another South Korean utility firm. Hanjin Shipping currently operates a total of 30 ships for coal transportation for POSCO, Hyundai Steel Co. and others. Shares of Hanjin Shipping were trading at 16,450 won on the Seoul bourse as of 1:50 p.m., down 0.93 percent.