STX Pan Ocean, the largest commodities shipping company in South Korea, has signed a 510 million US$ loan from Export[ds_preview]-Import Bank of Korea and eight overseas lenders, which consist of China Development Bank, ABN Amro, DnB, Deutsche Schiffsbank, BNP Paribas, ING Bank, Standard Chartered Bank and Credit Industriel et Commercial. STX Pan Ocean declared it will use the funds to pay for 16 of the 20 vessels that will be deployed next year under a 25-year contract with Fibria Celulose SA of Brazil. This service may generate up to 5 billion US$ in sales, STX Pan Ocean said.
