Revival of STX
STX Offshore & Shipbuilding, which is in the middle of restructuring in a voluntary agreement with its creditors, won a series of contracts for building mid-size oil tankers.
The company announced on August 13 that the contracts cover eight medium-range tankers, four options included, with Navig8. The capacity and total contract amount reach 49,000 DWT and US$330 million, respectively. Earlier than that, STX Offshore & Shipbuilding had signed a contract for an LR1 tanker with the Singaporean shipper in February.
STX obtained a total of 16 MR tanker contracts this year alone. The company has trimmed down its offshore plant business since last year while concentrating on MR tankers, bulk carriers, offshore supply vessels and special ships for profitability improvement and business stabilization.