![The Pan Ocean bulk carrier Pan Viva Image: MarineTraffic.com/Murray Welte](http://media.assettype.com/bairdmaritime%2Fimport%2Fwp-content%2Fuploads%2Fmedia%2Fk2%2Fitems%2Fsrc%2F9e3471bff6d99a57bfa0fe5c7e679a5c.jpg?w=480&auto=format%2Ccompress&fit=max)
South Korea's Pan Ocean Shipping has been awarded a contract to transport iron ore from Brazil to China.
Brazil's Vale awarded the US$113 million contract, which has a duration of five years from October 2020.
Pan Ocean has stated that it will invest in the construction of two additional iron ore carriers following the awarding of the contract.