Shares in STX Offshore & Shipbuilding (067250.SE) are up 7.1% at KRW31,900 on news that the South Korean shipbuilder is close to winning a KRW3-trillion (US $2.8 billion) container-ship order. A person familiar with the matter told Dow Jones Newswires earlier Tuesday that STX O&S has signed a letter of intent to build more than 20 container ships worth about KRW3 trillion for a Canadian ship owner Seaspan Corp (SSW) and the final contract will be out by the end of June. “STX Offshore usually gets orders for bulk ships, not for container carriers. Signing the LOI is not a final agreement of the deal, but the news is positive that there is strong demand for container ships,” says Shinyoung Securities analyst Um Kyung-a, who has a target price of KRW60,000.
(c) 2011 Dow Jones & Company, Inc.
Sign up for gCaptain’s newsletter and never miss an update
Essential maritime and offshore news, insights, and updates delivered daily straight to your inbox
President Donald Trump’s tariff onslaught has roiled Washington and Wall Street for nearly a month. If the trade war persists, the next upheaval will hit much closer to home.
Apple AAPL.O plans to shift the assembly of all iPhones sold in the U.S. to India as early as next year, pivoting away from China to avoid steep tariffs, the Financial Times reported, citing people familiar with the matter.
Denmark will spend about 4 billion crowns ($614 million) on building and procuring 26 navy vessels for patrolling, oil spill response and surveillance of undersea cables, Defence Minister Troels Lund Poulsen said on Tuesday.
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Stay informed with the latest maritime and offshore news, delivered daily straight to your inbox
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
