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STX Pan Ocean signs order.
(From Lloyds List)
Byline: Sam Chambers in Hong Kong
THE former Pan Ocean has signed its first shipbuilding contract with its affiliate, the first of many such orders expected.
STX Pan Ocean, as the Korean line is now called since it was taken over for $390m by STX last November, has placed an order with STX Shipbuilding, also of South Korea, for two 45,800 dwt product carriers.
The deal is worth Won988.4bn ($9.6m), the yard said, without specifying delivery dates. Under STX Pan Ocean's 2005 business plan, fleet expansion is a top priority, as is entering new sectors. This first order of the year marks a new arena for the line which currently operates chemical tankers only in the 7,000 to 20,000 dwt range.
Kang Duk-Soo, the chairman ...
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