Hints and tips:
...Pan Ocean has been placed under observation to see if it should be banned for the same reasons. Atal, a Polish property developer, was also excluded due to human rights risks....
...The Asian country’s three biggest shipping companies – Hanjin Shipping, Hyundai Merchant Marine and STX Pan Ocean – face more than Won3tn ($2.8bn) of maturing debts over the next two years....
...This month STX Pan Ocean, its shipping business, entered receivership after failing to find a buyer....
...STX Pan Ocean, South Korea’s biggest bulk shipping group, filed for court receivership on Friday, reflecting broader pressures in a sector dogged by sluggish demand and excess capacity....
...Korea’s biggest dry bulk shipowner, STX Pan Ocean, sought bankruptcy protection on June 7. Earnings for dry bulk ships continue to be too low to cover many companies’ operating costs....
...Shares in STX Group affiliates including STX Heavy Industries, STX Pan Ocean and STX Engine each tumbled by 15 per cent on Tuesday....
...Hyundai Merchant Marine reported a Won998.9bn net loss while STX Pan Ocean posted a Won456.6bn loss. “We are still in the red but we have seen a better start this year....
...Meanwhile the biggest gainer on the Kospi 100 was STX Pan Ocean, up the maximum 15 per cent. The reason?...
...In a separate case, New York-listed Diana Shipping said in December it was owed $4.8m for charter of the M/V Houston, which it had chartered for five years to China’s Shagang Shipping....
...In this area, STX Pan Ocean will be able to safely continue to work and analyze the damages and necessary repairs of the vessel that was designed and built by STX Pan Ocean....
...According to STX Pan-Ocean, South Korea’s largest owner/charterer of bulk vessels, more tonnage could be demolished this year than in the past eight years combined....
...STX Pan Ocean, South Korea’s largest bulk carrier, surged 3.2 per cent on higher freight rates....
...Forth’s remaining development properties – which include Ocean Terminal, a shopping development in Leith – were valued at £74m at the end of 2009....
...STX said that it chose Singapore for the listing because the country has a well-developed shipbuilding industry and it is a “familiar” market to the group as it has another unit, STX Pan Ocean, already listed...
...Within three years, it bought Daedong Shipbuilding, Sandan Energy and Pan Ocean Shipping and renamed them STX Offshore & Shipbuilding, STX Energy and STX Pan Ocean....
...A similar trend was evident in Seoul, where STX Pan Ocean, South Korea’s largest bulk shipping line, dropped 1.5 per cent to Won13,150 and Korea Line declined 3 per cent to Won49,100....
...STX Pan Ocean, a leading operator of dry bulk ships, also plans to sell some ships to the fund, although reports conflicted about whether it would sell four or six....
...Standout rallies were seen in Korea’s STX Pan Ocean which was up 4.9 per cent and Hyundai Heavy, up 3.2 per cent, meanwhile in Japan, Nippon Yusen and Kawasaki Kisen were both up 2.8 per cent....
...No wonder that numbers this week from Singapore’s Neptune Orient Lines, south-east Asia’s biggest container carrier, and STX Pan Ocean, Korea’s biggest dry bulk specialist, have been so gloomy....
...Thursday’s Lloyd’s List, the shipping daily, led with the story of an alleged, highly surprising default by STX Pan Ocean, a reputable South Korean shipping company, on a long-term charter for a vessel...
...STX Pan Ocean of South Korea sank 22.2 per cent to Won2,065, Mitsui OSK Lines of Japan lost 14.3 per cent to Y1,383 and China Shipping Container, or Cosco, plunged 15.8 per cent to HK$3.15....
...The offer for 600m shares in STX Pan Ocean has received a “pretty good” response during the roadshow and the issue has been fully covered, a source familiar with the listing process said....
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