STX Shipbuilding & Marine Orders 3 Tankers of 6600t Class

Possibility of Normalization Increased with First Order Since COVID-19 This Year

▲The LR1-class tanker built by STX Offshore & Shipbuilding

[Asia Economy Reporter Hwang Yoon-joo] STX Offshore & Shipbuilding, which had faced a contract drought since December last year, has succeeded in securing orders after about eight months. The company plans to accelerate its management normalization with this contract.

STX Offshore & Shipbuilding announced on the 3rd that it had signed a contract for three 6,600-ton class tankers (including options).

The contracted vessels comply with the International Maritime Organization (IMO)'s strengthened environmental regulations effective from 2020. They incorporate eco-friendly new technologies such as optimized hull forms, Energy Saving Devices (ESD), LED lighting systems, and frequency-controlled ventilation systems, significantly improving fuel efficiency and reducing emissions of air and marine pollutants, while also enhancing onboard convenience.

The contracted ships are scheduled to be delivered starting from the first quarter of 2022 at two-month intervals. Although the contract price was not disclosed at the shipowner's request, it is known to have been agreed upon at recent market price levels.

An STX Offshore & Shipbuilding official expressed expectations, stating, "This contract was achieved amid continuous cost competitiveness improvements through painful self-help measures such as recent workforce reductions, temporary shutdowns, and asset sales. Considering that the order is a re-contract from a shipowner who has previous experience with our company, it reflects our competitiveness in the small to medium-sized tanker market and the trust of the shipowner."