STX Pan Ocean concluded a COA (Contract of Affreightment) with Coal & Oil group, a large energy supply company in India. As a result of this contract, STX Pan Ocean will transport approximately one million tons of coal annually from 2012, a total of 10 million tons for 10 years. The coal is to be produced in Indonesia and will be transported to India.

STX Pan Ocean plans to secure a bulk carrier that can ship approximately 80,000 tons of coal for the full - scale implementation of this contract and to strengthen its fleet competitiveness as well.