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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.


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


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.  


More Chinese Ships to Use Arctic Route

Photo:  LaRouche PAC

 China will send more ships flying its flag to take the Northwest Passage via the Arctic Ocean to cut travel times between the Atlantic and Pacific oceans, says the state news agency Xinhua.   The world's largest maritime carrier China COSCO Shipping Corporation will send more cargo


Ocean Signal, AMI Marine Partner

Photo: Ocean Signal

Communication and safety at sea specialist Ocean Signal and manufacturer of marine electronic equipment AMI Marine have formed a new partnership to collaborate on product development for the large commercial vessel sector. Combining the specialist knowledge and extensive technical background of


OOI Community Workshop: Cabled, Endurance, and Station Papa

Credit OOI Cabled Array program and the Center for Environmental Visualization, University of Washington

The Ocean Observatories Initiative (OOI) infrastructure is operational and ocean scientists can now integrate OOI observations into their research proposals and projects. The UNOLS Ocean Observing Science Committee (OOSC) along with OOI’s Science Oversight Committee (SOC) are organizing a


Emission Changing the Smell of the Sea

Image: University of Hull

Chemistry and biological science experts at the University of Hull, say increasing acidification of the world’s oceans has the potential to significantly disrupt the way marine life communicates, with yet unknown consequences for the ecosystem.


Ocean Cleanup Prototype Set for a Test Run

Union Bear (Photo: Boskalis)

The first ocean cleanup system ever tested at sea will soon be deployed for trials 23 kilometers (12 NM) off the Dutch coast. The goal of the test is to see how the floating barrier design is able to cope in extreme weather at sea during a 12-month period.


Sustainable Use of the Oceans

Photo:  International Maritime Organization (IMO)

 International Maritime Organization (IMO)  will have an important contribution to make to the UN 2017 Oceans Conference, which is being co-hosted by Fiji and Sweden from 5 to 9 June 2017.   It has aims to support the implementation of Sustainable Development Goal 14 (Conserve and


Hundreds of Scientists Urge Obama to Halt Arctic Oil Drilling

Photo Credit: NASA Goddard Space Flight Center

 Nearly 400 scientists from more than a dozen countries signed a letter urging U.S. President Barack Obama to take the Arctic Ocean out of the next federal offshore lease sale plan, thus ruling out the possibility of offshore drilling in the Arctic in the near future.  


SCI expands its Coastal Shipping Services

Courtesy SCI

The new restructured SMILE Service synergizes Shipping Corporation of India’s (SCI) Services with Shreyas’s Services and seamlessly links up Persian Gulf with East Coast of India and West Coast of India, thereby, further strengthening and expanding SCI’s presence in the Coastal


US Forecaster Sees High Chance of La Nina

A U.S. government weather forecaster on Thursday maintained its projections for the La Nina weather phenomenon to take place in the Northern Hemisphere later this year, as El Nino conditions dissipated.   The Climate Prediction Center (CPC), an agency of the National Weather Service


Shipping Exec Indicted for Price Fixing

Another ocean freight executive has been indicted for participation in a long-running conspiracy to restrain trade in international ocean shipments of roll-on, roll-off cargo to and from the Port of Baltimore and elsewhere in the United States, the Department of Justice announced Tuesday.  


Dubai Partners with WOC on Ocean Sustainable Dwevelopment

Photo: Dubai Council for Marine & Maritime Industries

 The Dubai Council on Marine and Maritime Industries (DCMMI) and the World Ocean Council (WOC) have agreed to collaborate on ocean sustainable development and corporate ocean responsibility.    The WOC is increasingly working with and through “maritime clusters” to


Hapag-Lloyd: 50 Years of Container Shipping in Germany

This is one of the first containers of Hapag-Lloyd. (Photo: Hapag-Lloyd)

50 years after the beginning of modern container shipping in Germany, international trade is handled by 6,397 containerships, with a capacity of 21.1 million TEU. Hapag-Lloyd’s container fleet numbers among the largest in the industry.  


New Vessel Registration System for the UK

Oceans HQ Director André Tanguy

Oceans HQ, a  provider of specialized software to the world’s Maritime Administrations, has signed an agreement to deliver a new digital Vessel Registration system to the U.K. Maritime and Coastguard Agency.   The new digital platform forms a key component of the MCA’s


Samskip, Pro-Log Double Barge Services

Theodela barge Photo Samskip

Multimodal network operator Samskip and inland waterway transport provider Pro-Log are celebrating the 10th anniversary of barge operations connecting Rotterdam and Duisburg by adding a second vessel, increasing service frequency to six times weekly.


AAL Boosts Chinese Operations

Photo: AAL Shipping

 Leading global ocean transport operator, serving the breakbulk, heavy lift and project cargo industry AAL is set to strengthen its growing presence in the China region, with the appointment of specialist project and steel cargo freight forwarder Central Oceans






 
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