shipbuilding illustration

Report: STX Offshore bags order for petrochemical carrier

South Korean shipbuilder STX Offshore & Shipbuilding has won an order to build a 50,000-ton petrochemicals carrier, Yonhap reports citing a company statement.

Illustration; Image credit Offshore Energy

The Hong Kong-based company behind the order is set to take delivery of the ship in the first half of 2022.

The mid-size shipbuilder is also said to have secured an order for three 6,600-ton petrochemicals carriers from an unnamed Japanese shipowner.

According to Yonhap, the company is targeting up to 20 ship orders by April this year.

The shipbuilder has been struggling with the ordering drought for quite some time, further aggravated by the ongoing COVID-19 pandemic.

As a result, the company resorted to various cost-saving measures, including early retirement plans and unpaid furloughs.

At the same time, STX Offshore has been in the process of restructuring its business for over seven years in cooperation with its creditor the Korea Development Bank.

Based on the information available on VesselsValue, STX Offshore has five ships in its orderbook.

These include two small clean tankers being built for compatriot Woolim Shipping scheduled for delivery in 2022.

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STX Offshore is also building three 50,000 dwt MR2 chemical/product tankers for Greek shipowner Enterprises Shipping and Trading set for delivery in 2021.