SM Group's Daehan Shipping Signs 60 Billion Won Long-Term Coal Transport Contract with Korea East-West Power
Transporting Coal from Australia and Canada to Korea for Three Years
Daehan Shipping Secures Long-Term Contract with Korea East-West Power
Stable Growth through Dedicated Bulk Carrier Operations
Daehan Shipping, a shipping affiliate of SM Group, announced on the 27th that it has signed a long-term coal transportation contract worth 60 billion won with Korea East-West Power. The contract amount is equivalent to approximately 3.4% of Daehan Shipping's consolidated sales for last year, which totaled 1.7472 trillion won.
The contract period is three years, starting from January 2026. Daehan Shipping will use dedicated bulk carriers to transport coal for Korea East-West Power from countries such as Australia and Canada to South Korea.
Daehan Shipping plans to maintain stable profits by focusing on dedicated vessel operations through long-term contracts with high-quality clients. Its major customers include POSCO, SNNC (a subsidiary of POSCO Holdings), Korea Electric Power Corporation, GS Donghae Electric Power, Hyundai Glovis, and Vale (the largest mining company in Brazil), with 19 bulk carriers deployed for these clients.
Daehan Shipping’s subsidiary, Daehan Shipping LNG, is also operating and managing 14 LNG carriers under long-term transportation contracts with Korea Gas Corporation and the UK-based global energy company Shell, among others.
Hot Picks Today
"Could I Also Receive 370 Billion Won?"... No Limit on 'Stock Manipulation Whistleblower Rewards' Starting the 26th
- Samsung Electronics Labor-Management Reach Agreement, General Strike Postponed... "Deficit-Business Unit Allocation Deferred for One Year"
- "From a 70 Million Won Loss to a 350 Million Won Profit with Samsung and SK hynix"... 'Stock Jackpot' Grandfather Gains Attention
- "Stocks Are Not Taxed, but Annual Crypto Gains Over 2.5 Million Won to Be Taxed Next Year... Investors Push Back"
- "Who Is Visiting Japan These Days?" The Once-Crowded Tourist Spots Empty Out... What's Happening?
A representative from Daehan Shipping stated, "We will proactively respond to internal and external uncertainties surrounding the shipping industry through strategic fleet management," adding, "By consistently conducting sales activities using dedicated vessels under long-term contracts, we aim to increase our performance and improve our financial soundness, thereby pursuing sustainable growth."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
