South Korea's STX Shipbuilding Co. said that its second-quarter earnings increased sharply on rising orders to build ships such as oil tankers and container ships and gains from equity ties with its affiliates. Its net profit reached $62m in the April-June period. The shipbuilder also said its profit was boosted by gains from equity ties with its affiliates such as STX Pan Ocean Co. STX shipbuilding has clinched orders worth $7.2 billion so far this year. The shipyard has raised its sales target for this year to $10 billion from $5.5 billion earlier, helped by increased orders for high-priced ships. Last year, it won orders worth $4 billion. Source: Yonhap
STX Pan Ocean Co. Ltd. (STX), headquartered in Seoul, Korea, and the owner of the commercial cargo ship, M/V Ocean Jade, pleaded guilty today to conspiracy as well as falsifying and failing to properly maintain records meant to ensure compliance with maritime pollution laws, the Justice Department announced. The chief engineer of the M/V Ocean Jade, Hong Hak Kang, a Korean citizen, also pleaded guilty today to failing to maintain environmental records and making false statements.
South Korea's STX Shipbuilding Co. (067250.SE) said Wednesday that it received a $266.7M order to build six petrochemical product carriers. An STX spokesman said the South Korean shipbuilder won the order from a Hong Kong-based company, but declined to identify the company. STX will deliver the tankers - which will have the capacity to load 51,000 tons of petrochemical products - by Sept. 2009, the company said.
STX Shipbuilding Co., said on Jan. 29 that it has won a deal valued at $215 million to build two bulk carriers. The deal from a European shipping company calls on STX Shipbuilding to deliver the vessels by June 2010, the company said in a regulatory filing. The shipbuilder won deals valued at more than $10 billion last year to build 170 vessels including bulk carriers. In 2006, STX Shipbuilding clinched shipbuilding orders valued at $4 billion.
The STX Shipbuilding Co., South Korea's seventh-largest shipbuilder, has won a $373m order to build six petrochemical goods carriers for a shipping company in India. The order, which accounts for 30.7 per cent of STX Shipbuilding's sales last year, calls for the Korean shipbuilder to deliver the six vessels to India's Shipping Corp. by July 2010, the company said in a statement. Source: ANTARA
South Korea's STX Shipbuilding Co. has received an order to build two crude oil tankers for $138.2m for a Greece-based company. The order calls for STX Shipbuilding to deliver the two vessels to Liquimar Tankers Management Inc. by July 2009, the company said in a regulatory filing.
The French Republic became a 33.34 percent shareholder in STX France and its shipyards in Saint-Nazaire and Lorient. STX Europe is a builder of cruise ships and ferries, with a market share of 35 - 40 percent. The company builds cruise ships at its yards in France and Finland. The French yards also have experience with navy vessels. Other shipyards in STX Europe are build specialized offshore vessels. The new agreement between STX Europe and the French Republic is a realization of
The Hong Kong Marine Department issued a statement outlining that it is strictly enforcing the requirement that vessels must submit a Pre-Arrival Notification (PAN) at least 24 hours before arriving in Hong Kong waters. Four ships were recently found to be in violation – their masters subsequently brought into court and charged. Failure to submit a timely PAN subjects the owner and the master both to a potential fine of $5,000 (HK$40,000)
STX Finland Oy appointed Juha Heikinheimo as new President of STX Finland Oy. Heikinheimo will replace Martin Landtman. It has been agreed that Mr Landtman steps down from his position with immediate effect. While STX Finland in the last years has built and delivered some of the world’s most magnificent vessels, STX Finland has also experienced low order intake of new vessels, resulting in gradually lower activity level during 2009 and 2010.
South Korean shipbuilders are expected to win the bulk of global orders for liquefied natural gas (LNG) carriers this year thanks to their capabilities to build such ships, industry sources said Wednesday. The country's three shipbuilders -- Daewoo Shipbuilding & Marine Engineering Co., Samsung Heavy Industries Co. and STX Shipbuilding Co.-- have clinched the world's 12 LNG ship orders placed this year, they said.
Hermes Datacommunications International Ltd., a company providing Wide Area Network communications to the upstream oil and gas industry, won a contract to support Tullow Oil plc. for their operations in Africa. The 24-month deal sees the company use its pan–African satellite platform to
STX Marine announced Bill Lind has joined its team to further develop their growing portfolio in the Gulf Coast. Bill joins STX Marine as Vice President of Operations (Houston, Texas) to continue STX Marine’s success in providing engineering servicesto clients worldwide
The Finland PM is hopeful that a strong new owner can turn around the prospects of the cash-strapped Finnish shipyards. This past week, the South Korean parent company STX announced it plans to sell off the Rauma and Turku shipyards as well as its half-share in the Helsinki shipyard
Creditors are expected to inject 800-billion Won (US$ 730-million) into STX Group during 2013, according to Yonhap News Agency. Creditors of STX Group will likely pump at least 800 billion won (US$730 million) into the troubled shipbuilding conglomerate in a bid to keep it afloat
Luxury cruise ship 'Europa 2' is now in the service of Hapag-Lloyd cruises following delivery by STX France. At a formal ceremony, Hapag-Lloyd Cruises has taken delivery of the modern and casual luxury ship Europa 2 from the STX France shipyard in Saint Nazaire
Arrangements have been made to ensure that the Turku shipyards of STX Finland will be able to deliver two ships ordered by the German TUI cruise line, Finland’s Ministry of Employment and the Economy said on Friday. The two cruise liners are slated for a 2014-2015 completion date.
Creditors of the ailing shipbuilder agree to provide STX Offshore with (US$540 million) in emergency loans. The news is cited as coming from the main creditor bank and is reported by the Yonhap News Agency. STX Offshore, the shipbuilding unit of STX Group
STX Marine (STXM) has been awarded the contract for the engineering package for Seaspan Ferry Corporation’s fleet replacement program. The completed concept design will form part of a bid package, expected to be released to shipyards for tender in July 2013.
STX Marine launched MAC Offshore’s Compact Semi-Submersible (CSS), CSS Olympia. The launch took place on the 28th March, 2013 at the LiyaPingtan Shipyard, in Fujian Province, China, managed by Fujian Mawei Shipbuilding. The delivery of the vessel is due in November 2013 to CSS
TUI Cruises President and CEO Richard Vogel is in Finland this week reviewing the status of the construction of the company’s two ship orders, Mein Schiff 3 and Mein Schiff 4, and provided an update. Mr. Vogel noted that construction on Mein Schiff 3 at STX Finland is now 25% complete
As part of the permanent dialogue with the shipping industry, a Panama Canal Authority (ACP) delegation headed by Administrator Jorge L. Quijano visited South Korea to hold discussions with the vehicle carrier market segment and obtain feedback on the future toll structure being developed by the
Teekay Tankers orders 4 LR2 product tankships from STX Offshore & Shipbuilding with options for 12 more. The agreement is for STX of South Korea to construct four fuel-efficient 113,000 dwt Long Range 2 (LR2) product tanker newbuildings for a fully built-up cost of approximately
The sale of STX Pan Ocean Co. fell through as the Easter financial markets closed. No potential bidders expressed their interest in South Korea's leading bulk carrier, raising the possibility that the shipping line may be taken over by a state-run policy lender, reports Yonhap News Agency.
Mitsubishi Heavy Industries, Ltd. (MHI) signs an agreement allowing STX Construction (Dalian) to produce & market marine deck cranes. Through licensing to this company member of the STX group, which has shipyards in Korea, China and Europe
'MSC Preziosa' successfully completes sea trials with its GE Power Conversion electrical power & propulsion system. Built from the STX yard in Saint-Nazaire, France, MSC Preziosa is the latest ship in MSC’s Fantasia-class and the 12th in the MSC fleet