STX Group completed building the first vessel made by its shipyard in China's northeastern port city of Dalian.
South Korea's STX Group, said Thursday it had completed building the first vessel made by its shipyard in China's northeastern port city of Dalian.
The new bulk carrier, which is able to carry 58,000 metric tons of deadweight, was placed by the STX Pan Ocean Co., a shipping unit of STX, the group said in a statement. "The launch of the first ship is meaningful for STX as the Dalian shipyard is poised as a core base of STX's global production networks," STX Chairman Kang Deok-soo was quoted as saying in the statement.
STX's shipyard in Dalian, named the STX (Dalian) Shipbuilding Co., has a backlog of around US$4.8 billion and is expected to generate $3.8 billion in sales in 2010, according to the statement.
STX is the first South Korean shipbuilder to build vessels in China.
The Dalian yard will deliver 29 ships next year and 47 in 2010, STX said.
STX plans to complete the second-stage of construction to add facilities for building sea plants and vessel engines in the Dalian yard by April 2009, it said.