South Korean shipbuilder STX Offshore & Shipbuilding Co Ltd will likely need to enter court-supervised receivership due to financial difficulties, the firm's lead creditor Korea Development Bank said on Wednesday.STX Offshore's creditors took control of the company in 2013 after the shipbuilder was hit by falling ship prices following the global financial crisis.A Korea Development Bank spokesman…
The South Korean government decided to restructure two financially-troubled mid-sized shipbuilders, said a report in Business Korea. While filing for court receivership for the debt-ridden Sungdong Shipbuilding, the government has decided to save STX Offshore and Shipbuilding Co…
The Italian shipbuilder Fincantieri signed Friday an agreement to buy 50% of the share capital of France's STX Shipyard, for 59.7 million euros. This takeover is part of the agreement in principle reached in September between France and Italy…
AFC Korea, a subsidiary of Chinese private equity fund AFC, has been selected as the preferred bidder for cash-strapped STX Corp, according to a Business Korea report. AFC Korea has reportedly offered a price tag above 70 billion won (US$65…
South Korea’s STX Offshore & Shipbuilding won contracts to build six tankers from Greece and local shippers, reports Korea JoongAng Daily. STX announced that Greek shipper OceanGold Tankers placed an order for four medium-range tankers of 50…
France may intervene in the sale of the Saint-Nazaire shipyard by bankrupt South Korean shipbuilder STX if the French government's conditions are not met, Industry Minister Christophe Sirugue said.'The government is fully mobilised and will not hesitate to use all of the levers at its disposal…
Italian shipbuilding and construction group Fincantieri SpA is the only bidder for shipping group STX France, a source close to the matter said on Tuesday. The sale of STX France, which specialises in building cruise ships in the western France city of Saint-Nazaire and is profitable…
Navig8 Chemical Tankers Inc (the “Company”) (N-OTC: CHEMS), an international shipping company focused on the transportation of chemicals, today announced that it has taken delivery of the Navig8 Topaz, a 49,000 DWT IMO2 Interline-coated chemical tanker…
STX Offshore & Shipbuilding may be put under a court-led restructuring scheme, paving the way for the shipyard to avert liquidation, says a report in Korea Times quoting local court. Last month, STX Shipbuilding, once Korea's No. 4 shipbuilder…
The shipbuilding group STX France has offloaded its Lorient shipyard to a naval consortium. The shipyard, which has produced civil and naval vessels, will be purchased by Kership, a joint venture between French industrial shipbuilder Piriou and naval manufacturer DCNS…
Navig8 Chemical Tankers has signed sale and leaseback agreements with China's Bank of Communications Financial Leasing (BCFL) for a quartet of medium range tankers. The for four 49,000 DWT Interline coated medium range tankers being built at STX Offshore & Shipbuilding Co…
MSC Cruises, the 4th largest cruise line, confirmed the existing STX France options to build an additional two ships in the Meraviglia class. The ships, valued by MSC at $1.7 billion, will be longer and bigger versions of the Meraviglia-class ship…
Creditors of financially troubled STX Offshore & Shipbuilding are opposing financial aid for the shipyard citing the gloomy outlook of the shipbuilding industry, Korea’s Yonhap News has reported. Creditors of STX Offshore, led by the state-run Korea Development Bank (KDB)…
The South Korean shipyard STX Offshore & Shipbuilding is apparently close to a bankruptcy if not yard soon find new vendors who are willing to pump huge sums into the yard. Otherwise, there is the prospect of a collapse in the first half of the 2016th…
South Korean shipbuilder STX Offshore & Shipbuilding (STX O&S) has won an order for up to eight LR1 tankers with a total value of $ 375 million. The contract provides for the construction of four oil tankers of 74,000 tons plus the ability to build four additional ships…
