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Stx Shipbuilding Co Ltd News

22 Jan 2018

Milaha Acquires its Largest Containership

Majd (Photo: Mike Page / Milaha)

Qatar-based maritime and logistics conglomerate Milaha said it has acquired its largest container vessel to date, Majd, a 3,768 TEU vessel. Majd was built by STX Shipbuilding Co. Ltd. in South Korea, and has a length overall of 246.87 meters and a deadweight of 44,985 metric tons. The new vessel will be one of the 17 container vessels that the group operates, and is part of the ongoing expansion of the group’s overall fleet. Milaha currently fully owns and operates a fleet of over 80 vessels…

20 Nov 2008

ABS Council Adds Members

At the recent ABS Council meeting, 31 prominent members of the shipping and offshore industries were elected as new members of the prominent international classification society. The ABS Council also elected seven new members to the society’s Technical Committee. “Our strength as a classification society is the breadth of experience and depth of wisdom of our membership,” said ABS Chairman & CEO Robert D. Somerville. Zamil A. Thomas J. Angiolino, Senior Vice President, Willis of New York, Inc. Commodore R. Balasubrmaniam, IN (Retd.), Director, Rajapur Shipyard Pvt. Ltd. Dong-Su Choi, President & CEO, SLS Shipbuilding Co., Ltd. Robert G. George A. Cupstid, Senior Vice President and General Manager, LeTourneau Technologies, Inc. Tim E. Steven Durrell, President, Irving Shipbuilding Inc.

08 Sep 2008

Navios Acquires Capesize New Building Vessels

Navios Maritime Holdings Inc. has entered into agreements to acquire two capesize new building vessels scheduled for delivery in 2009. Both vessels have secured long term charter-out employment. Navios has entered into agreements to purchase two capesize vessels of approximately 181,000 dwt each, to be built by STX Shipbuilding Co. Ltd. in . The vessels will cost $108.5 and $109m respectively. The first vessel is scheduled for delivery in the second quarter of 2009 and has been chartered-out for ten years commencing upon delivery at a net charter-out rate of $42,250 per day. The second vessel is scheduled for delivery in the third quarter of 2009 and has been chartered-out for seven years with three one year charterers' options.

24 Apr 2007

Quintana Maritime to Purchase Capesize Newbuildings

Quintana Maritime Limited to purchase two 181,000 deadweight-ton (dwt) Capesize vessels. The vessels are being built at STX Shipbuilding Co., Ltd., a major South Korean shipyard, with delivery expected in the fourth quarter of 2010. The expected total cost at delivery of the two vessels, including contract costs and financing costs, will be approximately $159m. Quintana expects to nominate shipowning companies in which it will own a 50 percent interest to purchase the vessels. The company is in the process of negotiating the terms of the agreements governing the joint ventures. The company will pay approximately $16m, $4m and $60m in 2007, 2008 and 2010, respectively, and will control 50% of the shipowning companies.

27 Feb 2007

STX to Build Vietnam Shipyard

The Vietnamese Prime Minister has approved a project of the STX Shipbuilding Co Ltd of South Korea to build a shipyard in the Van Phong economic zone in the central province of Khanh Hoa, said the Asia Pulse According to the head of the zone's Management Board, Nguyen Trong Hoa, the shipyard will be the largest in the region with an initial investment capital of $500m. The shipyard will be built in Van Phong Port. In the first phase of the project, the port will be capable of building 15 ships with a total capacity of about 900,000 DWT. Source: Asia Pulse

23 Feb 2007

Vietnam Shipbuilding Expansion Moves On

It is being reported that the Vietnamese government has given approval in principle for STX Shipbuilding Co. Ltd of South Korean, to build a $500m shipyard covering 300 hectares in the Van Phong Economic Zone in Vietnam. Vietnam is keen to progress shipbuilding as a national champion and this is the latest development towards her goal of becoming a world-class shipbuilder to rival other countries such as China, South Korea and Japan. Although there are 'certain formalities' to go through before final approval, it is almost certain that there are just purely formalities and the construction of the new shipyard will go ahead, as Prime Minister Nguyen Tan Dung has instructed state agencies 'to help' the company with them.

19 Apr 2006

MISC Orders New Tankers

Malaysian shipper MISC Bhd. confirmed an order for four chemical tankers from South Korea's STX Shipbuilding Co. Ltd. No pricing details were released, but it is said that the tankers were of 38,000 DWT each, for delivery in 2009. Source: Dow Jones

01 May 2006

MISC Sees Record Freight Rates

Business Lines report that MISC Bhd has experienced its best performance over the past 20 years in the chemical shipping market. Freight rates for shipping chemicals reached historical highs in the second half of 2004, exceeding previous peaks of 1991 and 1995. The firmer freight rates are the result of demand outstripping supply for the more sophisticated chemical vessels and the lack of shipyard space to build stainless steel chemical vessels. The demand for chemical vessels has also edged up as countries such as India and Pakistan restrict vessels which are more than 25 years from entering their ports. Taking advantage of this market situation the carrier has placed orders for additional four chemical tankers.

26 Feb 2002

Stelmar Shipping Delivers Ambermar

Stelmar Shipping Ltd. announced that it has taken delivery of the Ambermar, a newly built 35,500 dwt Panamax tanker from the STX Shipbuilding Co. ltd (ex-Daedong) in South Korea. Ambermar has entered into a previously announced 18-month time charter with FAMM, the commercial division of ChevronTexaco. Peter R. Goodfellow, Chief Executive Officer and President commented, “We are pleased to have received delivery of the Ambermar. In the first and second quarters of 2002, our company will receive delivery of three more new Panamax tankers, all of which are on time charters. Including these vessels, we now have 22 vessels on time charter.

07 Oct 2005

OSG Signs Time Charter for Four

Overseas Shipholding Group, Inc. signed an agreement with Parakou Shipping Ltd., an international shipping company based in Hong Kong, to time charter four product carriers for 10 years each. vessels, two of which are already under construction, will be built by STX Shipbuilding Co., Ltd. in Korea and are scheduled for delivery to OSG in September and October 2006 and April and June 2007. The product carriers, all sister ships with a capacity of 51,000 dwt and six segregations, will be able to transport petroleum products, vegetable oils and IMO III chemicals. Delivery of the vessels will increase the number of International and U.S. Flag product carriers in OSG's fleet to 50.