STX fire sale sees Pan Ocean and OSV subsidiaries up for grabs

Singapore: Debt laden STX Group is keen to offload its shipping line STX Pan Ocean. The Singapore-listed line is South Korea’s largest bulker operator with around 400 ships on its books. STX’s controlling 36% stake in the line is worth around $250m according to Bloomberg. The fire sale at the sprawling maritime conglomerate also sees another Singapore-listed firm, STX OSV, potentially come under the auction block, while the firm is willing to listen to offers for up to a 40% stake in its Dalian shipyard.   [14/12/12]

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