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STX Shipbuilding secures record order

Seoul: STX Shipbuilding Co, the world's seventh-largest shipbuilder, said Sunday it has won a US$1.5 billion contract from a Greek shipping company to build nine super container ships.

The deal, the single largest transaction in the yard's history, calls for the South Korean shipyard to deliver the 12,400 teu vessels to Nike Group by late 2011. The ships are then likely to be chartered to MSC.

STX Shipbuilding said in a statement that it is the first time for the shipbuilder to receive an order to build a container vessel of 10,000 teu or larger.

"The contract has paved the way for STX to develop into a large shipyard that can manufacture high-end ships," the company said.

"We will expand into such areas as very large crude carriers, icebreakers and cruise ships."

With the latest deal, STX shipbuilding has clinched orders worth $7.2bn so far this year.  [13/08/07]

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