Pan Ocean



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Overview

We at Pan Ocean will lead the world’s economy by crisscrossing the five oceans and the six continents.

We at Pan Ocean will lead the world’s economy by crisscrossing the five oceans and the six continents. As a global shipping company representing Korea, Pan Ocean is gaining a worldwide reputation and winning trust not only in the bulk carrier service, its major business, but also in high value added ship services including container ships, tankers, car carriers, LNG carriers and heavy lift vessels.

The company is solidifying its position as a global shipping logistics enterprise by increasing its fleet of ships and continuously expanding its global network.

Sales
2,454.6 US$ in millions
Executives and Employees (on-land 388, Maritime 1,922)
2,310
Pan Ocean Sales by Business Sector for the year ended 2011
  • Bulker

    77.5%

  • Container

    11.9%

  • Tanker

    6.4%

  • others

    4.2%

Global shipping company representing Korea

While shipping more than 120 million tons of cargo a year based on its major business of dry cargo marine transportation service, Pan Ocean is providing various services with bulkers, tankers, LNG carriers, car carriers, container ships, etc. In particular, based on its fleet of approximately 500 ships, the company is operating bulk cargo shipping services ranking it with global leading shipping companies by transporting bulk cargos including iron ore, coal, grain, fertilizers, lumber, etc. Only Pan Ocean has had its stocks listed on both the Singapore Stock Market and the domestic stock market (KRX), a first for a domestic enterprise. Having been selected as the first-place enterprise in the‘Korea’s Most Admired Company’ category by the Korea Management Association Consulting (KMAC) for two consecutive years, Pan Ocean is recognized as a leading shipping company representing Korea.

Securing new growth engines by developing new markets and businesses

WPan Ocean is exerting its efforts to diversify its businesses in order to establish a sustainable and stable growth base and to create profits. In addition, in order to develop new markets and businesses with a high potential of becoming new growth engines and future profit sources, the company is expanding its business range in the world. In 2010, the company concluded a long-term transportation agreement with Fibria, the world’s largest pulp production company in Brazil, and placed orders for a total of 35 ships and establishing a new base for its growth. By carrying out reorganization and newly establishing a business team in each business division this year, it will also increase its market share in the dry bulk cargo business by focusing on newly emerging markets. In addition, by securing stable business opportunities through continuous investment in special vessels including tankers, LNG carriers, car carriers, heavy lift vessels, offshore supporting vessels, etc., the company will exerts its best efforts to become an axis for future growth.

Effective risk management through our management innovation system

Pan Ocean is applying an advanced management system in order to predict and effectively manage the risks posed under fluctuating shipping market conditions in order to ensure solid future growth. The company introduced an integrated management innovation system, SAIMS (STX Pan Ocean Advanced & Integrated Management System) in 2008, a system which collects and analyzes risk factors relating to personnel affairs, administration and management, financing and accounting, and then establishes measures against risks by type in order to prevent risks in advance.  Based on this system containing various shipping information and the know-how accumulated over 45 years, Pan Ocean's risk management committee minimizes risks by holding quarterly or non-scheduled meetings depending on individual cases. Thus, Pan Ocean is continuously receiving trust from its customers despite an uncertain management environment constantly under threat from ever increasing risks of fluctuating exchange rates, market conditions, oil prices, etc.

Leaping forward toward becoming an integrated shipping and logistics enterprise

Pan Ocean is implementing its strategy to leap forward toward becoming an integrated shipping and logistics enterprise by maximizing the business capability it has accumulated in the field of existing shipping business and advancing into related businesses. The company advanced into an overseas grain terminal business by establishing a grain terminal that can treat a maximum of eight million ton of grain a year. In addition, it will aggressively create demands for shipping in related industries such as logistics and resource development businesses. Exerting such efforts, Pan Ocean is making its dream of becoming a global leading shipping company come true.

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