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STX PO downgrades Singapore listing status

Singapore: South Korea's STX Pan Ocean will downgrade its listing status on the Singapore Exchange from 8 March 2013.

Lee Hong Liang, Asia Correspondent

March 5, 2013

1 Min Read

Kalyakan - stock.adobe.com

The shipping company will change from a primary listing to a secondary listing this Friday.

STX PO, which is also listed in Seoul, did not explain the reasons for the listing status change.

STX PO had posted a huge 2012 full year net loss of $418.29m due to low freight rates and high bunker fuel prices. It also recorded a deficit of $18.67m in 2011.

The company's Singapore shares traded down 10% to SGD5.20 ($4.20) per lot at the close of Monday.

About the Author

Lee Hong Liang

Asia Correspondent

Singapore-based Lee Hong Liang provides a significant boost to daily coverage of the Asian shipping markets, as well as bringing with him an in-depth specialist knowledge of the bunkering markets.

Throughout Hong Liang’s 14-year career as a maritime journalist, he has reported ‘live’ news from conferences, conducted one-on-one interviews with top officials, and had the ability to write hard news and featured stories.

See more from Lee Hong Liang

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