South Korea: STX Bags Order for Four LPG Carriers

STX Offshore & Shipbuilding has received an order for eight liquefied petroleum gas carriers (LPGC) from Greece’s Vafias Group. Two of these vessels are 5,000 cu m and the other two are 6,500 cu m carriers, which cost in total USD 100 mln. These Carriers are due to arrive in 2013-2014.

Vafias has the opportunity to buy up to four more vessels for the same price. This company has previously ordered small LPG vessels from the Japanese which were dominant in construction of these carriers.

Mr. Vafias stated that the difference between Japanese and STX offers were in prices and flexibility with the designs.

STX Offshore & Shipbuilding Co., Ltd is one of world’s leading shipbuilders. The Company’s product portfolio consists of tankers, container ships, bulk carriers, liquefied petroleum gas (LPG) and liquefied natural gas (LNG) carriers, very large crude carriers (VLCCs), pure car carriers, pure truck carriers and naval vessels. The Company is also engaged in the provision of ship components such as deck houses and diesel engines, and plant engineering services including procurement, feasibility study and construction. The Company is a subsidiary of STX Corporation. The Company acquired 100% of HYUK SHIN MACHINERY CO.LTD, a Korea-based manufacturer of ship blocks, on January 15, 2011.

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Shipbuilding Tribune Staff, March 27, 2012; Image: stxons