STX Shipbuilding & Marine's First Ship Orders This Year... Three 6,600-ton Tankers

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[Asia Economy Yeongnam Reporting Headquarters, Reporter Kang Sharon] STX Offshore & Shipbuilding, which had been suffering from a drought in orders, succeeded in securing ship orders for the first time this year.

STX Offshore & Shipbuilding announced on the 4th that it signed a contract the day before to build three 6,600-ton tankers (including options) with the domestic shipping company Woorim Shipping.

This marks the first shipbuilding contract secured in about eight months since the order in December last year.

Woorim Shipping had also placed orders for several tankers with STX Offshore & Shipbuilding in 2017.

Once the Korea Development Bank issues a refund guarantee (RG) for the advance payment and the contract is finalized, STX Offshore & Shipbuilding's order backlog will increase from the existing seven vessels to ten vessels.

An STX Offshore official said, "We have improved cost competitiveness through painful self-rescue measures such as recent workforce reductions, temporary shutdowns, and asset sales," adding, "We hope this contract will serve as a catalyst for orders of our main ship type, medium-range tankers (MR tankers)."

STX Offshore & Shipbuilding ended a two-month-long union strike and production halt and resumed normal operations from the 27th of last month.

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