STX secures a VLCC contract

Seoul: A joint venture between Italy's Scerni Group and Fratelli D'Amato called Dolphin Tanker has returned to STX Shipbuilding for a third VLCC, priced at 209bn Won ($156m). The ship will be delivered in November 2011. The deal marks a rare big signing at Asian yards since the start of the global financial crisis. [14/11/08]