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Pan Ocean

STX Pan Ocean Orders LNG Carrier

STX Pan Ocean has ordered a LNG carrier from Korean shipbuilder Hanjin Heavy Industries and Construction. The 153,000 cubic meter vessel will be built at a cost of $215m. Delivery is expected before 2010. STX Pan Ocean recently reported a 71 percent jump in full-year earnings to $279.8m on a 20 percent increase in sales to $2.7b. Profits had been driven by a strong growth in its core dry bulk shipping business. (Source: Channel News Asia)


Harim to Expand Pan Ocean with Grain

Firm aims to hike Pan Ocean sales to over 10 trln won in 5-6 years. South Korea's Harim Group aims to grow sales at the country's largest bulk shipper Pan Ocean Co Ltd, which it plans to acquire, seven times to more than 10 trillion won ($8.97 billion) annually within five to six years. The livestock and animal feed group plans to add a grains trading business to shipper Pan Ocean with the aim of building it into it a major dealer in the sector, Harim chairman, Kim Hong-kuk


Korean Dry Bulk Carrier Share Plunge Verified

A Singapore stock exhange error was at first suspected as shares in STX Pan Ocean Co. plunged 64%. The Singapore Exchange said there was no trading error behind the recent 64 percent plunge by shares of STX Pan Ocean Co. (STX), South Korea’s biggest dry-bulk carrier, during the final few minutes of trading Saturday, reports Bloomberg. Two lots totaling 300 STX Pan Ocean shares changed hands at S$1.595 apiece at 5:04:25 p.m., according to data compiled by Bloomberg


STX Pan Ocean Wins $240m Contract

South Korean shipping firm STX Pan Ocean said it has won a shipbuilding contract worth at least $240m. The contract is for the construction of three bulk carriers, which are expected to be delivered in the second half of 2010. Source: Reuters


STX Group Sales Rise

The STX Group said it expects to meet this year's sales target of $24b, thanks to earnings from its affiliates STX Pan Ocean Co. and STX Shipbuilding Co. In the first-half of this year, STX's group-wide sales stood at 13.2 trillion won, up 87 per cent from the same period last year, reports said. Group-wide operating profit in the first half more than doubled to 880 billion won. STX is now in the process of taking over 's Aker Yards after buying a controlling stake in 's biggest shipbuilder


Panamax Slide Should Continue

Panamax owners are unlikely to experience any relief from the current slide in earnings until March. February load freight rates have fallen further as a result of reduced enquiry, most obviously in the Atlantic, for both grain and mineral Panamax loads. Brokers expect that this situation will continue until South American grain shipments emerge in March. The noticeable absence of Japanese charterers has undermined the already weaker Panamax grain trades in the Far East


STX Pan Ocean CEO Resigns, Group Shipyards to be Sold

STX Pan Ocean Co., the country's leading bulk carrier, said that CEO Kang Duck-soo (who is also chairman of the STX Group) has resigned as the shipper has been under court receivership since June amid a deepening liquidity crisis, reports Yonhap. The cash-strapped STX Group, South Korea's 13th biggest conglomerate, has seen its major affiliates struggling from liquidity shortages and mounting debt due to the downturn in the shipbuilding and shipping sectors.


One-Millionth ship Transit Panama Canal

Photo courtesy Panama Canal Authority

Panama Canal Authority (ACP) Operations Executive Vice President Manuel Benítez awarded the vessel Fortune Plum with a plaque on Oct. 14, commemorating the ship as the one-millionth transit through the Panama Canal since its inauguration in 1914. The ceremony, held at the Miraflores Locks, included all Canal staff that worked September 4, the day of the historic transit, and also recognized the ship’s operator STX Pan Ocean.  


Greece's Star Bulk on Ship Buying Spree

Star Bulks Star Thetis: Photo courtesy of Star Bulk

Star Bulk Carriers contracts China's Shanghai Waigaoqiao Shipbuilding to build two Capesize dry bulk carriers, & also signs Letters of Intent with a major Japanese shipyard for construction of two Ultramax dry bulkers. The eco-type, fuel efficient Capesize drybulk vessels are to be delivered in Q4 2015 and Q1 2016, respectively and similar specification Ultramax dry bulkers in 2015. The aggregate purchase price of all four newbuilding vessels is approximately US$151.0 million.


What Goes Up …

Mdeck View from Monkey Is.jpg

Global credit woes have largely had little affect on the historic shipbuilding orderbook … yet.  According to a Bloomburg report, there are signs that shipbuilding’s bull run may be coming to an end, fueled by the largest credit-market losses ever, which is starting to make attaining credit more difficult and putting in peril a number of shipbuilding orders. According to the Bloomburg report, as much as $14 billion in ship orders is threatened by cancellations and delays


INTTRA Celebrates 15th Anniversary

Logo

Marking its 15th Anniversary in 2016, INTTRA, the world's ocean shipping electronic marketplace, looks back on the success of its innovative platform while embracing its future as the digital leader in logistics - growing rapidly and expanding its offering.  


Cargo Ship Crew Awarded for Heroism at Sea

Capt. Chris Hill from the Intermarine Fleet accepting the Admiral of the Ocean Sea (AOTOS) Mariner’s Plaque during the annual United Seamen’s ‘s Services (USS) Annual Gala Event (Photo courtesy of Crowley)

Officers and crewmembers of the Crowley Maritime Corp.-managed cargo ship M/V Ocean Glory were recently honored with a 2016 Admiral of the Ocean Sea (AOTOS) Mariners’ Plaque for demonstrating heroism at sea during the United Seamen’s Service’s (USS) annual AOTOS awards ceremony


Sustainable Development Goals for the Oceans

Photo:  International Maritime Organization (IMO)

 The role of the marine industry in supporting the United Nations Sustainable Development Goals was addressed at the 2016 World Ocean Council Sustainable Ocean Summit in Rotterdam, Netherlands (30 November-2 December).     International Maritime Organization (IMO)'s Theofanis


Task Group Sails to Bass Strait

HMA Ships Adelaide, Melbourne, Newcastle, Parramatta, Gascoyne and Huon leave Sydney Harbour to take part in Exercise OCEAN RAIDER, one of the Royal Australian Navys largest maritime warfare activities. Photo: Royal Australian Navy.

 Warships, submarines and aircraft from all over the country are converging on Bass Strait for the final week of Exercise OCEAN RAIDER, one of the Royal Australian Navy’s largest maritime warfare activities.   HMAS Adelaide lead six ships south from Sydney


CMA CGM Revamp Indian Ocean Feeder Network

Map:  CMA CGM

 Starting December 16th, 2016, CMA CGM has chosen to revamp its feeder network to Indian Ocean to reinforce its quality, reliability and frequency.    The offering of two separate products dedicated to Comoros/Mozambique market and North Madagascar will strengthen our


NYK Scholarships for Maritime Students in China

Photo: NYK Line

 During the month of November, NYK offered scholarships to 78 outstanding Chinese students in two universities in China. This was the 16th consecutive year for NYK to demonstrate its corporate social responsibility (CSR) through the company’s dedicated support of maritime education.


NYK Scholarships Offered in China

Front line, middle Yuji Isoda, NYK corporate officer 4th from left Mr. Pan Xinxiang, DMU vice president, Photo NYK

During the month of November, NYK offered scholarships to 78 outstanding Chinese students in two universities in China. This was the 16th consecutive year for NYK to demonstrate its corporate social responsibility (CSR) through the company’s dedicated support of maritime education.


Task Group Training Begins Off NSW Coast

HMAS Parramatta (154) leaves Sydney Harbour to take part in Exercise OCEAN RAIDER, one of the Royal Australian Navys largest maritime warfare activities. Photo: Royal Australian Navy

 One of the Royal Australian Navy’s largest maritime warfare exercises has begun in several locations off the New South Wales coast.   Exercise OCEAN RAIDER involves 11 warships and submarines, aircraft and more than 1,500 personnel from Australia and the United States in a three


Robert Allan Designed Tug Delivered to Ocean Group

TundRA 3600 series icebreaking tugs designed by Robert Allan Ltd

On October 28th, 2016 the Ocean Group Inc. of Quebec City, Canada took delivery of the 6000 kW ASD tug Ocean Taiga. This icebreaking escort tug joins her sister Ocean Tundra as some of the most powerful tugs in the Canadian registry, part of a new generation of extremely capable tugs


Adani Ports Organize Trade Meet in Rajkot

Shahzad Athar, GM, APSEZ - Container Marketing, addressing the audience, Photo APSEZ

Adani Ports and Special Economic Zone Ltd (APSEZ), India’s largest port developer and operator’s, container terminal, Mundra, recently organized a trade meet at Rajkot with the intent of showcasing the capabilities of Mundra Port and recent developments thereat, to their stakeholders.


OCEAN Alliance Vs 2M

Photo: CMA CGM Group

 With Ocean Alliance released its long-awaited network information, with members CMA CGM, China Cosco Shipping, Evergreen Line, and Orient Overseas Container Line to offer 40 services on the east-west trades with 498 port calls, battle looms in the global market as it challenges 2M


Antarctica’s Ross Sea Gets Protection

Commission on the Conservation of Antarctic Marine Living Resources (CCAMLR) today agreed to set aside more than 1 million square kilometres of the Ross Sea Image ASOC

The Commission on the Conservation of Antarctic Marine Living Resources (CCAMLR) today agreed to set aside more than 1 million square kilometres of the Ross Sea in recognition of its incredible scientific and biodiversity values.   CCAMLR committed to creating a system of marine protected


OCEAN Alliance Gains US Approval

File photo: Port of Long Beach

The proposed OCEAN Alliance between several of the world’s largest container shippers has received approval from the U.S. Federal Maritime Commission (FMC), allowing it to become effective Monday, October 24, 2016.   The OCEAN Alliance, comprising COSCO Shipping, CMA CGM


Korean Register CEO Park Passed Away

Dr. B. S. Park ( Photo: Korean Register)

Dr. B. S. Park, Korean Register Chairman and CEO, has passed away after a short illness.   Dr. Park graduated from Korea Maritime and Ocean University in 1976 and joined Pan Ocean Shipping where he worked in a number of capacities until 2001


Unmanned Aircraft to Take Off from Falkor

Chief Scientist Will Sager interpreting data in the control room Photo SCHMIDT OCEAN INSTITUTE

Research vessel Falkor leaves Darwin today to explore the poorly understood air-sea interactions across the Indian and Pacific Ocean. This research is very important in understanding the ocean’s role in global climate change. The exchange of energy and matter between the atmosphere and the






 
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