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
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.