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STX Offshore & Shipbuilding

Type: Company

Name: STX Offshore & Shipbuilding

First reported Jun 18 2013 - Updated 8 hours ago - 1 reports

Hyundai Motor Company

Seoul shares rise 0.9 pct as autos, techs fuel gains

* Samsung Elec, Hyundai Motor lift markets higher * Foreign investors sell for an eighth session * STX Pan Ocean tumbles, STX Offshore & Shipbuilding rallies SEOUL, June 18 (Reuters) - Seoul shares advanced on Tuesday as battered auto and technology heavyweights ... [Published Sharenet - Jun 18 2013]

Entities: STX Pan Ocean Co Ltd, Stocks, Seoul, Hyundai Motor Company

First reported Jun 18 2013 - Updated 17 hours ago - 2 reports

STX Pan Ocean Shares Fall as Restructuring Process Begins

STX Pan Ocean’s Ocean Vanguard, image: STX (Bloomberg) – STX Pan Ocean Co., South Korea’s largest commodities-shipping company, slumped to the lowest level in Seoul trading since its listing after a court accepted its application to seek protection. ... [Published MaritimeSecurity.Asia - Jun 18 2013]

Entities: STX Pan Ocean Co Ltd, STX Corporation, Stocks, Kiwoom Securities Co Ltd, Seoul

First reported Jun 18 2013 - Updated Jun 18 2013 - 1 reports

Woori Finance Holdings Co Ltd

Seoul shares little changed, foreign selling persists

* Market little changed as investors hold back before Fed meeting * Foreign investors sell for an eighth session * Techs rebound, banking stocks slide SEOUL, June 18 (Reuters) - Seoul shares traded nearly flat on Tuesday as investors continued to speculate ... [Published Sharenet - Jun 18 2013]

Entities: Seoul, Stocks, Declination, KOSPI 200, Woori Finance Holdings Co Ltd

First reported Jun 14 2013 - Updated Jun 14 2013 - 1 reports

STX log boat risks arrest in New Zealand

The ship was to dock in Gisborne to load logs, and was scheduled to come in when the loading of the log boat now alongside the wharf was completed.The bulk carrier New Giant sits out in Poverty Bay with an uncertain future after its Asian owners went ... [Published Shippingreporter.com - Jun 14 2013]

Entities: STX Corporation, New Zealand, Arrests

First reported Jun 14 2013 - Updated Jun 14 2013 - 1 reports

Roundup: S.Korean shares rebound on upbeat U.S. data

South Korean shares rebounded Friday from the decline of the past three sessions as institutional investors bought shares following upbeat economic data from the United States. The benchmark Korea Composite Stock Price Index (KOSPI) rose 6. 51 points, ... [Published Individual.com - Jun 14 2013]

Entities: Stocks, STX Engine Co Ltd, STX Heavy Industries, United States

First reported Jun 12 2013 - Updated Jun 13 2013 - 1 reports

Korea may set up foreign investment agency

Finance minister opposes opening duty-free shops in arrivals zonesUpdated : 2013-06-12 20:57Deputy Prime Minister and Finance Minister Hyun Oh-seok hinted that policymakers may devise measures to set up a special government agency in charge of attracting ... [Published Korea Herald - Jun 12 2013]

Entities: STX Corporation, STX Engine Co Ltd, STX Heavy Industries

First reported Jun 13 2013 - Updated Jun 13 2013 - 1 reports

STX Corporation

ASIA: Creditors support STX shipyard until end of July

STX Offshore & Shipbuilding (STX O&S), part of the South Korean conglomerate STX Group, will remain supported by creditors until the end of next month. According to officials from the creditors group, led by state-owned Korea Development Bank (KDB), the ... [Published Lloyd's List Daily Commercial News - Jun 13 2013]

Entities: STX Corporation, STX Offshore & Shipbuilding, Korea Development Bank

First reported Jun 07 2013 - Updated Jun 07 2013 - 4 reports

Foundering STX Pan Ocean seeks court protection

STX Pan Ocean, Korea’s largest bulk carrier and flagship of cash-strapped STX Group, has filed for a court receivership in the face of snowballing losses stemming from the prolonged slump in the global shipping market.The shipping arm of Korea’s 13th-largest ... [Published Korea Joongang Daily - Jun 07 2013]

Entities: STX Pan Ocean Co Ltd, STX Corporation, Korea Development Bank

First reported Jun 07 2013 - Updated Jun 07 2013 - 3 reports

Seoul shares see largest slide in 11 months; Samsung Elec dives 6 pct

* Galaxy S4 sales in Q3 seen worse than expected * Largest foreign selloff in nearly 22 months * STX Pan Ocean applies for court receivership; affiliates plunge * Signs of N.Korea thaw boost related shares By Joyce Lee SEOUL, June 7 (Reuters) - South ... [Published Sharenet - Jun 07 2013]

Entities: Samsung Electronics Co Ltd, Seoul, Stocks, STX Pan Ocean Co Ltd

First reported Jun 06 2013 - Updated Jun 06 2013 - 1 reports

Order spree to go on

that the company could go public within six to eight months.Frontline 2012 will tread carefully when it comes to selecting yards for additional tonnage having culled six capesize vessels in China this year due to delays.And the company says it is closely ... [Published Big News Network - Jun 06 2013]

Entities: STX Dalian, Shipbuilding, STX Offshore & Shipbuilding

First reported May 31 2013 - Updated May 31 2013 - 3 reports

Creditors may pump cash into STX shipbuilding unit

Creditor banks of troubled STX Group have almost reached an agreement to provide additional liquidity to the group’s shipbuilding unit in a bid to help it stay afloat, industry sources said Friday.Creditor banks of STX Offshore & Shipbuilding Co. are ... [Published Korea Herald - May 31 2013]

Entities: STX Corporation, Shipbuilding, STX Offshore & Shipbuilding

First reported May 31 2013 - Updated May 31 2013 - 1 reports

Creditors agree on $266 mn aid for STX Offshore & Shipbuilding

Creditors have reached a de facto agreement to provide 300 billion won ($266 million) for the ailing STX Offshore & Shipbuilding.The creditor group tentatively decided in the second round of working-level meeting on Thursday that the Korea Development ... [Published Maekyung - May 31 2013]

Entities: STX Offshore & Shipbuilding, Korea Development Bank, Korea Finance Corporation, Shinhan Bank, Woori Bank

Quotes

..."The market will not likely have a clear direction until the FOMC meeting," said Choi Kwang-hyeok, an analyst at E-Trade Securities. "The U S Fed will probably not immediately end the stimulus measures, but the mention of that possibility in the near future will scare investors" Choi added. Foreign investors' net selling was modest at 12...

Seoul shares little changed, foreign selling persists [Published Sharenet - Jun 18 2013]

An STX Energy official said, "If STX Solar is liquidated as Orix wants, we will take a loss of the amount that we have invested. In addition, we must shoulder the debt guarantee obligations related to projects that STX Solar took on. Once STX Solar can recover from the current crisis, it has a high growth potential. Why would anyone want a promising company to be dead prematurely?"

STX and Orix at Odds over STX Solar Liquidation [Published KOREA IT TIMES - Jun 13 2013]

"A combination of a sharp decline in freight rates, a delayed industry recovery, oversupply of ships due to an increased production at Chinese shipyards and higher fuel costs drove up debt and squeezed margins" the company said

High Bunker Prices, Oversupply Blamed as STX Pan Ocean Files for Bankruptcy [Published Ship & Bunker - Jun 10 2013]

...Hyundai Merchant Marine and Hanjin Shipping dropped 4.72 and 1.78 percent respectively. Kim Minji, E Trade Korea analyst, said, "In a situation where the shipping industry is unable to get out of a downturn for years, it also failed to raise their rates during the spring season. To add insult to injury, the STX Pan Ocean news hit the industry hard and it is unlikely the shipping shares would see recovery any time soon."

KOSPI Falls to 1950s Largely due to STX Pan Ocean News [Published KOREA IT TIMES - Jun 10 2013]

More Content

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Seoul shares rise 0.9 pct as autos, techs fuel ... [Published Sharenet - Jun 18 2013]
STX Pan Ocean Shares Fall as Restructuring Proc... [Published MaritimeSecurity.Asia - Jun 18 2013]
Pre market: UK labour costs rose in first quart... [Published Proactiveinvestors United Kingdom website - Jun 18 2013]
STX Pan Ocean Falls as Receivership Filing Acce... [Published Washington Post - Jun 18 2013]
Seoul shares little changed, foreign selling pe... [Published Sharenet - Jun 18 2013]
On the waterfront: Repercussions from STX Pan O... [Published Otago Daily Times - Jun 16 2013]
Shipbuilders buck tide with niches [Published Korea Joongang Daily - Jun 16 2013]
SCF withstands challenging tanker industry cond... [Published Hellenic Shipping News Worldwide - Jun 14 2013]
STX log boat risks arrest in New Zealand [Published Shippingreporter.com - Jun 14 2013]
Roundup: S.Korean shares rebound on upbeat U.S.... [Published Individual.com - Jun 14 2013]
France spurns call to take over Saint-Nazaire s... [Published Malaya Business Insight - Jun 13 2013]
Seoul shares end at 7-month low on foreign selling [Published Sharenet - Jun 13 2013]
ASIA: Creditors support STX shipyard until end ... [Published Lloyd's List Daily Commercial News - Jun 13 2013]
STX and Orix at Odds over STX Solar Liquidation [Published KOREA IT TIMES - Jun 13 2013]
Korea may set up foreign investment agency [Published Korea Herald - Jun 12 2013]
Creditors pressed to cover massive loan loss on... [Published Hellenic Shipping News Worldwide - Jun 11 2013]
High Bunker Prices, Oversupply Blamed as STX Pa... [Published Ship & Bunker - Jun 10 2013]
Frontline 2012 in the red [Published Tanker Operator - Jun 10 2013]
KOSPI Falls to 1950s Largely due to STX Pan Oce... [Published KOREA IT TIMES - Jun 10 2013]
Korea mulling pushing for sale of Daewoo Shipbu... [Published GlobalPost - Jun 09 2013]
Foundering STX Pan Ocean seeks court protection [Published Korea Joongang Daily - Jun 07 2013]
STX Pan Ocean files for receivership [Published Marine Log - Jun 07 2013]
Valemax operator STX Pan Ocean applies for cour... [Published Reuters - Jun 07 2013]
STX Pan Ocean files [Published Big News Network - Jun 07 2013]
STX Pan Ocean files for court receivership [Published Channel NewsAsia - Jun 07 2013]
Seoul shares see largest slide in 11 months; Sa... [Published Sharenet - Jun 07 2013]
Roundup: S.Korean shares drop on Samsung shock [Published Individual.com - Jun 07 2013]
Pre-market briefing: US households' net worth a... [Published Proactiveinvestors United Kingdom RSS feed - Jun 07 2013]
STX Pan Ocean files for court receivership [Published Yonhap News Agency - Jun 07 2013]
Seoul shares slide to 6-week low as Samsung Ele... [Published Sharenet - Jun 07 2013]

Blogs

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STX Pan Ocean Shares Fall as Restructuring Proc... [Published MaritimeSecurity.Asia - Jun 18 2013] STX Pan Ocean’s Ocean Vanguard, image: STX (Bloomberg) – STX Pan Ocean Co., South Korea’s largest commodities-shipping company, slumped to the lowest level in Seoul trading since its listing after a court accepted its application to seek protection. ...
Pre market: UK labour costs rose in first quart... [Published Proactiveinvestors United Kingdom website - Jun 18 2013] UK Market Snapshot UK markets finished higher yesterday, as investors look forward to the outcome of the US Federal Reserve’s meeting on Wednesday. Reckitt Benckiser Group jumped 2.2%, after a broker stated that the stock is undervalued by the ...
Teekay Joins the Rush for Eco-Product Tankers, ... [Published MaritimeSecurity.Asia - Apr 09 2013] Limerick Spirit, a 105k DWT tanker, image: Teekay Teekay Tankers (NYSE:TNK) announced today a $188 million order for four new 113,000 DWT Long Range 2 (LR2) product tankers from South Korea’s STX Offshore & Shipbuilding Co. This order includes an ...
Capital Product Partners L.P. Reaches Condition... [Published MaritimeSecurity.Asia - Mar 01 2013] ATHENS, GREECE–(Marketwire – Feb 28, 2013) – Capital Product Partners L.P. (the “Partnership” or “CPLP”) (NASDAQ: CPLP) has reached a conditional agreement with Overseas Shipholding Group Inc. (“OSG”) and certain of OSG’s subsidiaries regarding the long ...

Press Releases

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Teekay Tankers Ltd. Orders Four Fuel-Efficient ... [Published Marketwire - Breaking News Releases - Apr 08 2013]