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STX now sixth largest yard in the world

London: South Korea's STX Shipbuilding Co has moved from seventh to sixth place in global shipyard rankings by order backlog as of the end of October, according to research by shipbroker Clarkson. STX Shipbuilding had an order backlog of 29 million compensated gross tons (CGTs), up from 28.31m CGTs the previous month, Clarkson said. With plans to enter LNG soon, and new subsidiaries opening up in China, STX is eyeing fifth spot already. In late September, STX Shipbuilding revised its annual order target upward to 73 ships worth US$3.6bn from an earlier plan of 54 vessels worth $2.6bn. According to Clarkson Hyundai Heavy Industries Co, the world's No. 1 shipyard, had the largest order backlog of 13.39m CGTs as of the end of last month. Order backlogs for the world's second- and third-largest companies, Samsung Heavy Industries Co and Daewoo Shipbuilding & Marine Engineering Co, came to 9.46m CGTs and 7.5m CGTs, respectively, it said.  The subsidiaries of Hyundai Heavy Industries, Hyundai Mipo Dockyard Co and Hyundai Samho Heavy Industries Co, saw order backlogs amount to 4.23m CGTs and 3.04m CGTs each. Hanjin Heavy Industries Co came to rank ninth in the world with an order backlog of 2.18m CGTs, it said.  [23/11/06]

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