STX Offshore & Shipbuilding Continues Winning Contracts at Year’s End

STX Offshore is on a continuous victory campaign, wining contracts even at year’s end.

STX Offshore & Shipbuilding said on Dec. 14 that it recently signed a contract with Singaporean shipping company BW Pacific on four LR1 tankers, a class with a 74 thousand Dead Weight Tonnage (DWT) capacity, along with additional options.

Earlier this year, STX Offshore & Shipbuilding was successful in obtaining contracts for a total of 11 ships (four ships on option) counting in the year end only, including LR1 class tankers and Liquefied Natural Gas (LNG) bunkering shuttles.

The contracted ships will be delivered sequentially beginning the second half of 2016. The information regarding pricing of the ships and the number of options will not be disclosed, as was requested by the ship owners.

An official from STX Offshore & Shipbuilding stated, “After entering a creditor autonomy agreement last year, we renovated our business structure towards focusing on mid-class ships, the result being filling the rest of our orders in hand with MR and LR1 tankers,” adding, “We were especially successful in the LR1 sector on which we possess peerless technological competence.”
Source: Business Korea