SAO PAULO, Brazil (From news reports) -- Brazil's Fibria Celulose SA has signed a $636 million shipping deal with South Korea'sPan Ocean Co Ltd, according to a securities filing.

The deal, approved by Fibria's board in November, involves a so-called "consecutive voyage contract" for five ships until 2035, with an option for the pulp maker to extend the deal by five or 10 years.