STX Pan Ocean Co Ltd

Entity type image
Type: Company
Name: STX Pan Ocean Co Ltd
Nationality: South Korea
Web Address: www.panocean.com/
First reported 19 hours ago - Updated 19 hours ago - 1 reports

ASIA: KDB may rethink purchase of STX Pan Ocean stake

STX Pan Ocean’s troubles continue, its stock losing 22% in two trading days amid speculation that its main creditor, Korea Development Bank, has decided not to acquire the dry bulk operator after concluding its debt levels were higher than expected. STX ... [Published Lloyd's List Daily Commercial News - 19 hours ago]
First reported May 20 2013 - Updated May 21 2013 - 1 reports

Seoul shares down 0.22 pct on weak yen

South Korean stocks closed 0.22 percent lower Monday as the weak yen continued to weigh down on investors' sentiment here, analysts said. The local currency fell against the U.S. dollar.The benchmark Korea Composite Stock Price Index (KOSPI) moved down ... [Published Korea Herald - May 20 2013]
First reported May 21 2013 - Updated May 21 2013 - 1 reports

Korea's Shipping Companies Groan under Heavy Debts

Tuesday, May 21st, 2013 Korea IT Times (info@koreaittimes.com)SEOUL, KOREA - Korea's shipping companies, which have grown in tandem with the growth of the Korean economy, have fallen into a crisis due to heavy debts. The shipping companies, which ... [Published KOREA IT TIMES - May 21 2013]
First reported May 20 2013 - Updated May 20 2013 - 1 reports

KDB Concludes Not to Acquire STX Pan Ocean

Tuesday, May 21st, 2013 Korea IT Times (info@koreaittimes.com)SEOUL, KOREA - After reviewing the feasibility of acquiring STX Pan Ocean, Korea Development Bank decided not to acquire the shipping company due to higher-than-expected debts, according ... [Published KOREA IT TIMES - May 20 2013]
First reported May 17 2013 - Updated May 17 2013 - 1 reports

ASIA: STX Pan Ocean posts US$67m first-quarter loss

STX Pan Ocean has reported a loss attributed to shareholders of US$67m in the first quarter, compared to a much deeper loss of US$103.8m in the first quarter of 2012. Sales for the period stayed about flat with the previous year at US$1bn, while cost ... [Published Lloyd's List Daily Commercial News - May 17 2013]
First reported May 16 2013 - Updated May 16 2013 - 1 reports

Shipping recession may have hit bottom: STX Pan Ocean

Shipping recovery may be in sight: STX POfrom SingaporeThe downturn of the global shipping industry that has sent many owners into losses may have passed its bottom, according to STX Pan Ocean (STX PO), an indication that a gradual recovery is taking ... [Published Seatrade Global - May 16 2013]
First reported May 16 2013 - Updated May 16 2013 - 1 reports

Ezion lands $80m service rig deal

Ezion Holdings landed a $80.3m deal to provide a service rig for use by an Asian national oil company to support its oil and gas activities.The four-year contract will see the service rig working in Southeast Asian waters by the end of 2013 after its ... [Published Seatrade Global - May 16 2013]
First reported May 06 2013 - Updated May 06 2013 - 1 reports

STX weighing France, Finland shipyard sales

SEOUL, - South Korea’s STX Offshore & Shipbuilding Co Ltd said on Friday it is considering the sale of shipyards in France, Finland and China as STX Group looks to address its mounting debt.Holding company STX Corp - and affiliates STX Heavy Industries ... [Published Malaya Business Insight - May 06 2013]
First reported May 03 2013 - Updated May 03 2013 - 1 reports

REQUEST FOR LIFTING OF TRADING HALT - STX PAN OCEAN CO., LTD. - [05/03/2013 03:08:08 PM]

"DISCLAIMER:- This announcement was prepared and issued by the below mentioned listed issuer to the Exchange. The Exchange assumes no responsibility for the correctness of any of the statements made, opinions expressed or reports contained in this announcement ... [Published Singapore Exchange - May 03 2013]
First reported May 03 2013 - Updated May 03 2013 - 1 reports

MISCELLANEOUS - STX PAN OCEAN CO., LTD. - [05/03/2013 03:05:30 PM]

MISCELLANEOUS :: MIGRATION OF SHARES BETWEEN SINGAPORE EXCHANGE AND KOREA EXCHANGE ... [Published Singapore Exchange - May 03 2013]
First reported May 01 2013 - Updated May 01 2013 - 1 reports

Authorities check financially distressed firms

Regulators to list that need debt workouts by next monthUpdated : 2013-05-01 20:42Financial authorities are in the process of evaluating and reviewing credit standings of domestic companies in financial turmoil in the industrial sectors, such as shipping, ... [Published Korea Herald - May 01 2013]
First reported Apr 29 2013 - Updated Apr 30 2013 - 2 reports

STX makes last-ditch efforts for survival

Chairman Kang plans to offload overseas assetsKang Duk-sooSTX Group Chairman Kang Duk-soo is facing his biggest-ever crisis as the nation’s 13th largest conglomerate by assets is teetering on the brink of collapse due to an acute cash shortage caused ... [Published Korea Times - Apr 30 2013]

Quotes

"While Wall Street gathered ground in the previous trading session on improved consumer sentiment, South Korea's stock market continued to remain under selling pressure as the weak yen continued to weigh down on the economic growth outlook" said Kang Hyun-gie, a researcher at I'M Investment & Securities Co
...6 million) in liquidity to STX Heavy Industries and STX Engine until Thursday, according to officials. "The creditors have shown no division over the need to salvage the two companies" said an official at KDB
"Investors also still remain dubious on the economic recovery of South Korea down the road, as the country lacks growth momentum" Kang added
A financial regulator said, "It is a matter to be decided by the creditor group who will take into account the economy-wide repercussions if the whole group collapses" hinting that the agreement would be in sight

More Content

All (55) | News (44) | Reports (2) | Blogs (9) | Audio/Video (0) | Fact Sheets (0) | Press Releases (0)
sort by: Date | Relevance
Diana Shipping Inc. Reports Financial Results f... [Published Morningstar.com - 11 hours ago]
ASIA: KDB may rethink purchase of STX Pan Ocean... [Published Lloyd's List Daily Commercial News - 19 hours ago]
Tidewater Management Discusses Q4 2013 Results ... [Published Seeking Alpha - May 21 2013]
Korea's Shipping Companies Groan under Heavy Debts [Published KOREA IT TIMES - May 21 2013]
KDB Concludes Not to Acquire STX Pan Ocean [Published KOREA IT TIMES - May 20 2013]
Seoul shares down 0.22 pct on weak yen [Published Korea Herald - May 20 2013]
ASIA: STX Pan Ocean posts US$67m first-quarter ... [Published Lloyd's List Daily Commercial News - May 17 2013]
STX ‘legend’ comments on company’s troubles [Published Korea Joongang Daily - May 16 2013]
Promising Fleet Trends [Published Breakbulk - May 16 2013]
Shipping recession may have hit bottom: STX Pan... [Published Seatrade Global - May 16 2013]
Ezion lands $80m service rig deal [Published Seatrade Global - May 16 2013]
Creditors move to approve liquidity supply to S... [Published Balita.org - May 15 2013]
STX plans to sell 3 shipyards to pay mounting debt [Published Malaya Business Insight - May 08 2013]
Regulators boost oversight of banks, overlevera... [Published Korea Herald - May 07 2013]
Lenders$$ outstanding credit to STX Group total... [Published Maekyung - May 07 2013]
STX weighing France, Finland shipyard sales [Published Malaya Business Insight - May 06 2013]
Creditors meet to discuss STX liquidity supply [Published Yonhap News Agency - May 06 2013]
Seoul shares down 0.22 pct despite ECB rate cut [Published Korea Herald - May 06 2013]
STX Creditors to Review Proposal to Inject 800 ... [Published KOREA IT TIMES - May 06 2013]
S. Korea's STX Group mulls selling European shi... [Published Malaysia MSN - May 04 2013]
S. Korea's STX Group mulls selling European shi... [Published West Australian - May 04 2013]
S. Korea's STX Group mulls selling European shi... [Published Expatica France - May 04 2013]
Panama Canal Gauges Toll Hike Sentiment [Published Tax-News.com - May 04 2013]
4 STX units apply for creditors’ management [Published Korea Herald - May 03 2013]
STX weighing France, Finland shipyard sales as ... [Published Yahoo! UK and Ireland - May 03 2013]
MISCELLANEOUS - STX PAN OCEAN CO., LTD. - [05/0... [Published Singapore Exchange - May 03 2013]
REQUEST FOR LIFTING OF TRADING HALT - STX PAN O... [Published Singapore Exchange - May 03 2013]
Seoul mood buoyed by ECB rate cut; bank, shippi... [Published CNBC - May 03 2013]
KDB to assess affiliates of STX Group individually [Published Korea Joongang Daily - May 02 2013]
Confident KDB chairman pooh-poohs his parachute [Published Korea Joongang Daily - May 01 2013]
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Blogs

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STX Pan Ocean Sale Fails To Attract Bids, Bank ... [Published MaritimeSecurity.Asia - Mar 29 2013]
STX Pan Ocean’s Ocean Vanguard, image: STX SEOUL, March 29 (Reuters) – An initial round of bidding to acquire a controlling stake in South Korean bulk shipper STX Pan Ocean Co failed to attract any bids, the company’s largest shareholder STX Corp ...
Dry Bulk Shippers Forced to Turn Away Cargoes A... [Published MaritimeSecurity.Asia - Mar 12 2013]
A Liberty Maritime bulk carrier takes on grain destined for Sudan in the Port of Houston, image (c) Robert Almeida/gCaptain (Bloomberg) — The worst start to a year for freight rates is leading one of the creators of shipping derivatives to bet on ...
Shipping Iron Ore on Valemax Carriers Proves Ex... [Published MaritimeSecurity.Asia - Feb 28 2013]
Image Credit: Agência Vale (Bloomberg) — Brazilian miner Vale SA more than doubled spending on maritime freight in the fourth quarter as it shipped more of the steel-making commodity on its own expanding fleet of the world’s biggest iron-ore carriers. ...
Pre market briefing: "US needs revenue along wi... [Published Proactiveinvestors United Kingdom website - Feb 04 2013]
UK Market Snapshot  UK markets finished higher on Friday, buoyed by the better than expected US manufacturing and employment data. BT Group surged 6.5%, after its third quarter earnings came ahead of the analysts expectations. Miners, Vedanta Resources, ...
Shippers Tell Different Story on Chinese Export... [Published MaritimeSecurity.Asia - Jan 24 2013]
OOCL container loading on a vessel, via OOCL SHANGHAI–Many in the shipping industry see a sluggish year ahead for Chinese exports, a cornerstone of the world’s No. 2 economy, despite other indications of growing demand for China’s products. Some ...
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