South Korean shipbuilder STX Offshore & Shipbuilding said on 24 September that it has won two 74,000 dwt product tankers from a Greek ship owner.
Brokers suggested to IHS Maritime that the customer is Andriaki Shipping.
STX O&S said its Jinhae yard will deliver the ships by the second half of 2017.
The price of the tankers was not disclosed but from brokers’ estimates it is about USD46 million per ship.
The order is the latest in a string of product tankers the shipbuilder has secured.
In 2013 STX O&S underwent debt restructuring after incurring debts of at least USD1 billion, largely due to low-priced orders that turned out to be unprofitable.
The restructuring saw STX O&S liquidating its shipyard in Dalian, China, and shutting down its Busan shipyard.
STX O&S, which was largely unsuccessful in breaking into the market for offshore plants and drillships, decided to focus on small- and mid-sized ships as part of its restructuring.
A shipyard official told IHS Maritime that STX O&S has completed its restructuring and is once again focused on winning orders.
This post was sourced from IHS Maritime 360: View the original article here.