STX Orders Kamsarmaxes

23 June 2010 (Last Updated June 23rd, 2010 18:30)

South Korean shipping company STX Pan Ocean has commissioned a Chinese shipyard to build four bulk carriers for $138m. The company will build the vessels to increase the competitiveness of its dry bulk fleet and to secure long-term contracts, according to channelnewsasia.com. The

South Korean shipping company STX Pan Ocean has commissioned a Chinese shipyard to build four bulk carriers for $138m.

The company will build the vessels to increase the competitiveness of its dry bulk fleet and to secure long-term contracts, according to channelnewsasia.com.

The transaction is not expected have any bearing on the shipping company's earning in the current financial year, according to channelnewsasia.com.