Seoul: South Korean shipyard STX has declared earnings of 3.4bn won (US$ 3.6m) for the quarter ending in September as a result of the price boom in the new building market. The yard, which saw a loss of 8.6 billion won (US $9m) in the same period last year, now predicts total sales of a massive 1.6 trillion won (US $1bn) for this year. Last week STX signed a US$ 138.2m contract to build two aframax tankers for Greek group Liquimar Tankers Management, due for delivery in July 2009. [14/11/06]
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