Successfully Advancing into the Agri Trading & Logistics

Our advance into the agri-trading & logistics business will provide a momentum for expanding our reach into trading and logistics sectors beyond shipping services. We successfully inaugurated the agri-trading business by selling more than 1.5 million tons of corn, soybean, wheat, dried distiller’s grains, and palm kernel expeller annually after launching a dedicated organization. We also attained another prominent result by surging beyond Korea and penetrating into the China, Taiwan, Vietnam market in a relatively short period of time. Also, we will continue to develop other new markets such as Malaysia and Indonesia for sustaining growth.

Building a Foundation for Stable Growth

Our entrance into the agri-trading business has a significant meaning on a national level, as over 85% of domestic grain consumption relies on imports. Particularly, the rate of dependence on imports of wheat, corn, and soybean, except for rice, amounts to 97%. This unfavorable condition is mainly attributable to the absence of national grain traders. Therefore, our agri-trading business will become a future growth engine that can correlate to government’s food security policies. To accelerate the agri-trading business, in September 2020, Pan Ocean purchased interests of “EGT,” grain export elevator located in the west coast of the U.S. Pan Ocean will focus on bolstering its worldwide trading routes by utilizing our global network to build a foundation for stable growth and strengthen our influence in the global grain market.