STX Pan Ocean to purchase two container vessels

Seoul: STX Pan Ocean has signed a contract with  Thien & Heyenga, Gamany, for the purchase of  two container vessels for under $80m. The 1,700teu ships, which are to be built at the Guangzhou Wenchong Shipyard in China, will be delivered in the first half of the year 2009. In a statement, STX Pan Ocean said, "The purchase of the two container vessels is to improve the competitiveness of container business."  [29/06/07]