STX wins product tanker orders, waits on refund guarantees

STX wins product tanker orders, waits on refund guarantees

STX Offshore & Shipbuilding is back in business. Having just exited court-mandated restructuring, the Korean yard has revealed it has won its first overseas orders for nearly two years.

Greek owner Oceangold has come in for four 50,000 dwt product tankers, sealing a deal worth $140m.

Moreover, STX has won more 11,200 dwt product tanker orders from local Korean owners, and is now awaiting to see if it can fix refund guarantees for these latest contracts.

STX has seen Sambong D&C exercise an option while Woolim Shipping has come in for a firm tanker order plus an option.

Once one of the world’s largest shipbuilders STX has returned to its roots in offering a limited range of ship types, led by product tankers, as it looks to get back on a more stable financial footing.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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