Korea Line (KRX:005880) secured a long-term contract of affreightment from Posco Holdings' (KRX:005490) integrated logistics subsidiary Posco Flow, according to a Wednesday filing with the Korea Exchange.
The contract, valued at 71.9 billion won, is valid till Jan. 19, 2030. The contract pertains to the transportation of coal and iron ore from Australia and other regions to South Korea for a period of three years and three months. The freight costs will be paid by the counterparty upon completion of loading for each voyage, it said.
Shares of Korea Line added nearly 1% in recent trade.
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