STX Shipbuilding emerges as world's No. 4 shipyard

SEOUL, Feb. 4 (Yonhap) -- South Korea's STX Shipbuilding Co. climbed up a notch
to become the world's fourth-largest shipyard in terms of order backlog,
according to a London-based market researcher Wednesday.
STX Shipbuilding had an order backlog of 7.21 million compensated gross tons
(CGTs) as of the end of December, Clarkson Plc. said.
Hyundai Heavy Industries Co., the world's leading shipyard, had the largest order
backlog of 18.84 million CGTs, followed by Daewoo Shipbuilding & Marine
Engineering Co. with 11.01 million CGTs and Samsung Heavy Industries Co. with
10.42 million CGTs.
Hyundai Mipo Dockyard Co., Hyundai Heavy's affiliate, came in fifth with an order
backlog of 6.02 million CGTs.
STX Group, a mid-sized shipbuilding conglomerate, has been aggressively expanding
its business portfolio since early 2000 through a series of acquisitions.
The group obtained a controlling stake in Daedong Shipbuilding Co., based in the
southeastern city of Jinhae, and renamed it STX Shipbuilding in late 2001.
The takeover of Aker Yards, Europe's biggest shipbuilder, in 2007 also helped STX
make inroads into a lucrative cruise line business.
The shipyard's main products range from bulk carriers, chemical carriers to
container ships and offshore facilities.
In terms of new orders received last year, STX Shipbuilding ranked third with
2.59 million CGTs. Hyundai Heavy received the largest orders last year totaling
5.13 million CGTs, followed by Daewoo Shipbuilding with 2.72 million CGTs.
Samsung Heavy came in fourth with 2.17 million CGTs, according to the report.
sam@yna.co.kr
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