Pan Ocean Secures 20-Year VLCC Transport Contract with SK Energy Worth 2.47 Trillion KRW, Bolstering Long-Term Revenue Visibility
Harim Holdings' subsidiary Pan Ocean has signed a long-term crude oil transportation contract with SK Energy and SK Incheon Petrochem. The contract is valued at approximately 2.47 trillion KRW, representing 45.5% of Pan Ocean's 2025 revenue.
The contract involves deploying four VLCCs over a 20-year period starting in 2029. This agreement secures stable cash flows and enhances earnings predictability for Pan Ocean.
No shareholder return activities such as treasury stock acquisition or dividend adjustments were disclosed in this filing.
[AI Summary]Pan Ocean's mega contract with SK Group affiliates locks in substantial revenue for two decades, significantly improving Harim Holdings' consolidated earnings outlook without any dilution or capital risk.
KOSDAQ Filing Information
Conclusion of Single Sales/Supply Contract (Major Management Matters of Subsidiary)