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
South Korean poultry processor Harim Corp. is set to wrap up its purchase of troubled dry bulk carrier Pan Ocean Co. after creditors and shareholders approved a rescue plan for the country's biggest bulk carrier. Harim, partnering with JKL Partners, participated in the bid last year and was picked as the preferred bidder in December. The company paid over 1 trillion won ($895.5 billion) for the deal earlier this month.
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.
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.
Significant volumes of dry bulk carrier orders, most of them for Chinese shipyards, are reported by Clarkson Hellas in their latest S&P Weekly Bulletin, as follows: Starting with the large sizes in dry, Oldendorff Carriers are reported to have declared the sixth in a series of 207,000 DWT Newcastlemax at HHI, with delivery in the second quarter of 2015. Clarkson Hellas report that at Hanjin Subic, STX Pan Ocean have contracted two firm 150,000 DWT Capesize
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
Troubled South Korea shipbuilder STX Heavy Industries Co. issued a guarantee on a loan defaulted on by its Chinese heavy machinery manufacturer, STX Dalian Heavy Industries Co., from China's Bank of Communications and has been ordered to repay the loan, reports Yonhap. Unlisted STX Dalian Heavy Industries is a wholly owned subsidiary of STX Heavy Industries and has been ordered to repay the 60.9 billion won (US$56.8 million) loan by the China International Economic and Trade Arbitration
Brazil's Fibria Celulose SA , the world's largest producer of eucalyptus pulp, signed a $636 million shipping deal with South Korea's Pan Ocean Co Ltd, according to a securities filing on Friday. The deal, approved by Fibria's board in November
South Korea’s Samra Midas Group (SM Group) said that it is looking to acquire some overseas shippers, among other businesses in an effort to expand its foothold in the maritime sector, Yonhap News Agency cited one of the company’s officials.
The French state is considering nationalising the Saint-Nazaire shipyards before selling it to new investors if no deal can be reached with Italian shipbuilding group Fincantieri, Le Monde newspaper said on Friday. Shipbuilders MSC and Royal Caribbean have already expressed an interest
The first full scale boarding test of the world’s largest lifeboat, Palfinger Marine's new flagship for the cruise industry, landed the company a new world record. In 2015 Palfinger Marine won the impressive contract for delivery of 24 tenders, 12 lifeboats
During the month of November, NYK offered scholarships to 78 outstanding Chinese students in two universities in China. This was the 16th consecutive year for NYK to demonstrate its corporate social responsibility (CSR) through the company’s dedicated support of maritime education.
Navig8 Chemical Tankers Inc. today announced that it has taken delivery of the Navig8 Tanzanite, a 49,000 DWT IMO2 Interline-coated chemical tanker, from STX Offshore & Shipbuilding Co., Ltd. (“STX”), the final 49,000 DWT IMO2 Interline-Coated vessel from the Company’s
Only one bid has been received so far for shipping group STX France, said a Korean court on Tuesday. A spokesman for the Seoul court overseeing STX Offshore's receivership had said earlier in November that four parties had expressed interest in buying one or both of South Korea's STX
Italian shipbuilding and construction group Fincantieri SpA is the only bidder for shipping group STX France, a source close to the matter said on Tuesday. The sale of STX France, which specialises in building cruise ships in the western France city of Saint-Nazaire and is profitable
The South Korean court handling the bankruptcy proceedings of STX Offshore & Shipbuilding Co. said that only a single bidder had submitted a binding proposal to buy the shipyard's profitable French unit, says a report by AFP.
France may intervene in the sale of the Saint-Nazaire shipyard by bankrupt South Korean shipbuilder STX if the French government's conditions are not met, Industry Minister Christophe Sirugue said. "The government is fully mobilised and will not hesitate to use all of the levers at its
French state holds 33 pct of STX France; acquisition could boost Fincantieri's position in cruise shipbuilding. A South Korean court approved on Tuesday Italy's Fincantieri as the preferred bidder to buy shipbuilder STX France, helping Fincantieri move closer to a deal that could boost its
Hard to say 'Non' to Italian company's bid, says Sirugue; France keen to keep Saint Nazaire site running. A leading French minister expressed support on Wednesday for a bid by Italy's Fincantieri's for shipbuilder STX France, adding that the government would aim to keep the shipbuilder's
France wants a "multiple shareholder" solution to STX France, the shipbuilding company being sold off, French President Francois Hollande said on Tuesday. "We are working with the aim that the state can remain a minority shareholder, we want a multiple shareholder solution
A marine power generation and climate control products manufacturer Northern Lights, Inc. (NLI) has announced completion of a 235kW Commercial Series generator set for the Fire Department of New York. The unit – M235C13
French industry minister Christophe Sirugue said he would meet Italy's Fincantieri in a week's time to discuss its bid for STX France, but added France was still against Fincantieri gaining dominance in the governance of STX France.