Pan Ocean ditches STX from its name

Singapore: Pursuant to the rehabilitation plan of Korean bulker giant STX Pan Ocean the company’s name is reverting to its old, pre-STX name, Pan Ocean from this Friday.

The company has arranged with the Singapore Stock Exchange where it is dual listed to change its trading counter name from STXPO 100 to Pan Ocean 100 with effect from Friday.

The sprawling STX conglomerate took over Pan Ocean a decade ago, but since the shipping crash of 2008 the group has been offloading units to appease creditors.

Pan Ocean’s stock has largely migrated back to Seoul from Singapore in the past 18 months. [21/01/14]

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