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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


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.


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.  


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


More Plastic than Fish in the Ocean

Photo: International Maritime Organization

 Did you know that by 2050 there could be more plastics in the ocean than fish, if human habits don’t change?    India Clean Seas Conference taking place in Goa, India (22-24 September), discussed what needs to be done to keep the oceans clean.   


Tropical Coral reefs lose their Zooplankton through Ocean Acidification

Control site Ambient. Photo source :Alfred Wegener Institute PR

Tropical coral reefs lose up to two thirds of their zooplankton through ocean acidification. This is the conclusion reached by a German-Australian research team that examined two reefs with so-called carbon dioxide seeps off the coast of Papua New Guinea


U.S. meeting on ocean conservation nets $5.3 billion in pledges

U.S. Secretary of State John Kerry,

International participants at a high-level conference on the world's oceans pledged more than $5.3 billion for conservation and designated vast areas as protected waters, U.S. Secretary of State John Kerry said on Friday. More than 90 countries took part in the two-day conference


MN100: NABRICO

(Image: NABRICO)

The Company: From the design of barge accessories and deck fittings to the day-to-day commitment to customer service, NABRICO is one of the most highly respected names in the water transportation industry. NABRICO started building bridges in 1902 and built its first piece of floating equipment


NOAA Releases Final Ocean Noise Strategy Roadmap

Photo: National Oceanic and Atmospheric Administration

 NOAA has released its final Ocean Noise Strategy Roadmap, which will guide the agency in more effectively and comprehensively managing ocean noise effects on marine life during the next decade.   Sound is critical for the survival of many marine animals


Cooperation key to Enhancing Maritime Security in Indian Ocean

Image: International Maritime Organization (IMO)

 Further cooperation on maritime security in the western Indian Ocean area was discussed between members of International Maritime Organization (IMO) Secretariat and staff from the EU Critical Maritime Routes Indian Ocean (CRIMARIO).    


Ocean Signal Unveils E101V Float-Free EPIRB

Ocean Signal E101V float-free EPIRB with VDR memory capsule

The new Ocean Signal E101V float-free EPIRB with integrated voyage data recorder (VDR) memory capsule is designed according to the latest VDR performance standards as a leading solution for commercial vessels of 3000+ gross tonnage. This is on display at the SMM, Hamburg, 6th to 9th September


Two Greek Shipping Firms Indicted

 Greek shipping companies Oceanic Illsabe Limited and Oceanfleet Shipping Limited, and two of their employees, were convicted of violating the Act to Prevent Pollution from Ships (APPS), obstruction of justice, false statements, witness tampering and conspiracy


Coast Guard Sets Port Condition X-Ray in NC Waters

Image: NOAA

The Captain of the Port (COTP) North Carolina has set Port Condition X-Ray for all navigable waterways in the North Carolina COTP Zone in preparation for the anticipated weather impact of Tropical Storm Hermine, the U.S. Coast Guard announced.  


Arctic Sea Ice Melt Continues

Average sea surface temperature measured by satellites using thermal emission sensors, which produce global data adjusted after comparison with ship and buoy data, and sea ice concentration derived from NSIDC near-real-time data for August 7, 2016. Also shown are drifting buoy temperatures at the ocean surface (colored circles); gray circles indicate that temperature data from the buoys are not available. (Credit: M. Steele, Polar Science Center/University of Washington)

As of August 14, Arctic sea ice extent is tracking third lowest in the satellite record, according to the National Snow & Ice Data Center (NSIDC). The southern route through the Northwest Passage appears to be largely free of ice. Despite a rather diffuse ice cover in the Chukchi Sea


NASA May Send Submarine to Titan

Titans Subsurface Reservoirs (Artists Concept). Image by NASA

 NASA has unveiled plans to send a submarine into the depths of the largest ocean of Saturn's biggest moon, Titan in a bid to explore the depths of its largest ocean.   The aim to find the chemical composition of the largest ocean of the moon, Kraken Mare and search for signs of life.


Another Hurdle for The Ocean Alliance

William P. Doyle (Photo: FMC)

Commissioner William P. Doyle of the U.S. Federal Maritime Commission today voted in favor of requesting additional information from The Ocean Alliance parties.   The Request for Additional Information (RFAI) effectively stops the clock on the agreement until such time as the filing parties


iNavX Debuts IN-APP Charts, Maps Purchase Capability

iNavX and Fugawi Partner to Deliver Largest Set of Marine NavigationCharts, Maps and Weather Forecasts Directly Through App

iNavX, the benchmark marine navigation mobile application, in partnership with Fugawi X-Traverse, today launched its chart and map in-app purchase program. Now enabled with one-touch purchase and download, iNavX gives boaters the most streamlined access to the broadest set of marine charts and


Ocean Yield’s Final LR2 Tanker Joins Navig8

Courtesy Navig8

Navig8 Product Tankers Inc. today took delivery of one 110,000 DWT LR2 product tanker, the Navig8 Supreme, from Sungdong Shipbuilding & Marine Engineering Co., Ltd. (“Sungdong”). The Navig8 Supreme is the fourth vessel to be delivered under the sale and leaseback arrangements


Canada Embarks on Arctic Survey Mission

CCGS Louis S. St-Laurent  (File photo: Canadian Coast Guard)

Canada has launched its 2016 Arctic expedition to collect important scientific information to support the nation’s submission on the extended continental shelf in the Arctic Ocean. This year’s survey is a collaborative effort with Sweden






 
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