STX Shipbuilding Co., Ltd.
STX Shipbuilding Co., Ltd. is a Korea-based company active in the shipbuilding industry. It focuses on designing and building ships with capacities ranging from 30,000 to 80,000 deadweight tons. The Company's product portfolio consists of tankers, container ships, bulk carriers, liquefied petroleum gas (LPG) and liquified natural gas (LNG) carriers, pure car carriers and naval vessels. During the year ended December 31, 2007, the sale of tankers accounted for approximately 70% of the Company's total revenue. The Company is a subsidiary of STX Corporation, a holding company involved in energy trading, investment and management consulting. On May 14, 2008, the Company established a China-based wholly owned subsidiary company, which is mainly engaged in the management of buildings and lease businesses.
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STX Offshore & Shipbuilding (SEO:067250), the world's No.4 shipbuilder, is targeting a record US$2 billion in new orders for offshore vessels and plants this year.
Asian shares fell broadly yesterday following the sharp losses in Wall Street. Japan's Nikkei index extended its falling streak for the third trading session to a 26-year low. In Seoul, Kospi slumped 3.2%. China market, which is said as one of the world's best performers, saw a most massive drop of 4.6% in Shanghai Composite Index. Hong Kong's Hang Seng Index dropped 2.9% with China-related stocks tracking movements in Shanghai.
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