STX Pan Ocean launches new heavylift service.
KOREA"s largest bulk operator STX Pan Ocean has launched an oversized cargo shipping service between Asia, Middle East, Africa and Europe in an effort to tap into the construction boom in the Middle East.
STX Pan Ocean said the company had deployed a 16,715 dwt semi-submersible heavy-lift vessel STX Rose 1 to undertake the shipment, which had recently transported a raft of tugboats and barges from China to Myanmar.
?Despite uncertainties still lingering in the market, we have made the investment decision as rapid development and massive construction in the Middle East countries are expected to stimulate demand for the transport of heavy equipment,? the company added.
STX Pan Ocean said the company would expand voyages for STX Rose 1 this year. It also planned to secure additional heavylift vessels to keep pace with the market recovery but did not give any indication how many vessels would be deployed in the service.
STX Rose 1 is the only heavylift vessel among the 55 vessel fleet of STX Pan Ocean. The company has planned to splash out $203m to purchase six vessels this year although it does not give any details whether that plan will include heavylift vessels.