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STX Offshore draws new orders upon leaving bankruptcy court

Collected: 2017.07.22

Distributed: 2017.07.26

Source: Go Direct

STX Offshore & Shipbuilding Co., which graduated from court-led reorganization program at the beginning of July, has won new orders from home and abroad.

The Korean shipbuilder said on Friday it clinched a $140 million order from a Greek shipping company to build four 50,000 deadweight tonnage (DWT) midsize tankers. This is the company’s first offshore order in 20 months.

STX Offshore & Shipbuilding plans to start construction at its shipyard in Jinhae and deliver the vessels by the first quarter of 2019.

The company had signed another contract on Thursday with Korea’s Woolim Shipping Co. to build two 11,200-DWT tankers.

On July 3, the Seoul Bankruptcy Court judged STX was ready to run business on its own and ended the reorganization program.

By Moon Ji-woong

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