Two Buyers Eyeing Struggling STX France -Sources

NANTES, France Sept 7 (Reuters) - Two potential buyers have emerged for STX France, a shipyard subsidiary of the struggling South Korean group STX Corp, according to a French finance ministry source. The French state holds a 33 percent minority stake in STX France, which runs a naval shipyards in Saint Nazaire on the west coast. Lossmaking STX Corp is in administration. A … [Read more...]

STX Offshore Files for Court’s Aid Amid Korean Industry Woes

By Kyunghee Park (Bloomberg) -- South Korean shipbuilder STX Offshore & Shipbuilding Co. filed for court protection, the latest trouble to surface in a country where the government is trying to help an industry mired in losses and slump in orders for vessels. STX Offshore submitted the application to the Seoul Central District Court on May 27, the Changwon, South … [Read more...]

STX Offshore & Shipbuilding Fighting for Survival

South Korean shipbuilder STX Offshore & Shipbuilding is taking drastic measures to ensure its survival beyond mid-2016 as newbuild orders plunge and the cash-strapped company struggles to deliver those orders still remaining, according to reports. STX chief executive Lee Byung-mo sounded the alarm in an email to employees this week obtained by the Korean Herald, … [Read more...]

John Fredriksen Orders Up to 6 VLCCs at STX Offshore & Shipbuilding

  STX Offshore & Shipbuilding has confirmed an order from billionaire shipping tycoon John Fredriksen calling for the construction of up to 6 VLCCs. The order is comprised of two firm orders with four options. The 300,000 DWT vessels will measure 330 meters long by 60 meters wide. The two vessels are scheduled for delivery in 2017. In a statement, STX said … [Read more...]

STX Shipbuilding Wins Major Crude Tanker Order

STX Offshore and Shipbuilding has won a 746 billion won (US$696.5 million) order today to build 13 crude oil tankers including three Suezmax and ten Aframax-sized vessels, according to an exchange statement. In a conversation with Navig8 Tankers this morning, the shipowner has claimed at least eight of those tankers plus four options.  It's unclear at this time who the other … [Read more...]