A specialized LNG Bunker vessel to be built at the STX Offshore & Shipbuilding Company yard in South Korea on behalf of Shell will be powered by Wärtsilä DF dual-fuel engines. The ship will be used to deliver gas to LNG (Liquefied Natural Gas) fuelled vessels in Northwest Europe…
Arctech Helsinki Shipyard is now 100 percent Russian-owned as United Shipbuilding Corporation bought the remaining half of the company’s shares from STX Finland Oy. Arctech Helsinki Shipyard Inc. was founded in December 2010 as United Shipbuilding…
Germany's closely held Meyer Werft and the Finnish government are nearing a deal to buy the Turku shipyard in southwestern Finland from STX Europe , the Finnish economy ministry said on Monday.STX Europe belongs to Korean STX. The Turku…
STX Finland has been actively seeking solutions for saving the Finnish shipyard industry. In September 2013, the company launched a major restructuring aimed at safeguarding the operating potential of the company and, by extension, the entire maritime industry in Finland…
STX Finland, which has seen a deterioration of its shipbuilding base for many years, today announced its latest plan to stem the flow of red ink: a phase out of the Rauma shipyard. Senior management cited the continued bad global economy…
South Korean shares rebounded Tuesday from the prior session's fall as local institutions rushed to hunt for bargains on views that the recent decline was excessive. STX Group shares benefit from the rebound.STX group shares ended bullish…
The Finland PM is hopeful that a strong new owner can turn around the prospects of the cash-strapped Finnish shipyards.This past week, the South Korean parent company STX announced it plans to sell off the Rauma and Turku shipyards as well as its half-share in the Helsinki shipyard…
Creditors are expected to inject 800-billion Won (US$ 730-million) into STX Group during 2013, according to Yonhap News Agency.Creditors of STX Group will likely pump at least 800 billion won (US$730 million) into the troubled shipbuilding conglomerate in a bid to keep it afloat…
Creditors of the ailing shipbuilder agree to provide STX Offshore with (US$540 million) in emergency loans.The news is cited as coming from the main creditor bank and is reported by the Yonhap News Agency.STX Offshore, the shipbuilding unit of STX Group…
The sale of STX Pan Ocean Co. fell through as the Easter financial markets closed.No potential bidders expressed their interest in South Korea's leading bulk carrier, raising the possibility that the shipping line may be taken over by a state-run policy lender…
Mitsubishi Heavy Industries, Ltd. (MHI) signs an agreement allowing STX Construction (Dalian) to produce & market marine deck cranes.Through licensing to this company member of the STX group, which has shipyards in Korea, China and Europe…
'MSC Preziosa' successfully completes sea trials with its GE Power Conversion electrical power & propulsion system.Built from the STX yard in Saint-Nazaire, France, MSC Preziosa is the latest ship in MSC’s Fantasia-class and the 12th in the MSC fleet…
Shipbuilders & designers STX OSV adopt new brand name following sale of STX Europe’s majority stake in the company to Fincantieri Oil & Gas.Chief Executive Officer and Executive Director of VARD, Roy Reite, said, “I am excited to announce that VARD will be our new name…
Farstad Shipping ASA subsidiary, Farstad Supply AS, contracts with STX OSV AS for an Offshore Subsea Construction Vessel (OSCV).This new building is part of Farstad Shipping's expansion into the subsea market and represents an investment of approx NOK 825 mill…
STX Pan Ocean takes over the 83,000 dwt class Panamax, 'STX Horizon', its first new-build delivery of the year.Having concluded strategic contracts for long-term transportation with domestic and international shippers including POSCO, Hyundai-Steel…
