STX Shipbuilding to Expand

Bloomberg reported that STX Shipbuilding Co is planning to raise capacity at its South Korean yards by 20% in 2008 after adding a second floating dock to meet demand for new vessels.

Mr Kang Ssang Won senior VP of STX Shipbuilding told reporters that it would spend KRW 142.6 billion (USD 135 million) to build the new dock on the south coast the yards in Busan and Jinhae will be able to handle 60 ships as compared with 50 in 2007. (Source: http://steelguru.com)