Independent journal on economy and transport policy
07:30 GMT+1
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STX Pan Ocean asks the controlled administration
The South Korean shipowning company has a fleet of about 370 ships
June 7, 2013
The recrudescence of the total economic crisis makes an illustrious victim in the field of the shipping. STX Pan Ocean has announced to have introduced demanded of being mail in controlled administration not being able to tackle to the engagements in confronts of own creditors and being in liquidity crisis. The indebtedness of the South Korean shipowning company would go around on 4.400 billion the won (3,9 billion dollars).
The situation of difficulty of STX Pan Ocean has been aggravated when in recent days the hypothesis of an ulterior investment in the company by Korea Development Bank (KDB is set), that he is the main creditor of the South Korean shipowning society. In fact the negotiations have not had positive outcome so that KDB, that it stops 14.99% of the capital stock of STX Pan Ocean, found an ulterior quota 27.4% from South Korean group STX, that she is the main shareholder of the company ( on 9 April 2013),
STX Pan Ocean is constituted in 1966. The company, that it has a fleet of about 370 ships constituted mainly by portarinfuse let alone by unit reservior and portacontainer, has closed 2012 with a net loss of 66,5 million dollars on revenues for 1,05 billion dollars.
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The recrudescence of the total economic crisis makes an illustrious victim in the field of the shipping. STX Pan Ocean has announced to have introduced demanded of being mail in controlled administration not being able to tackle to the engagements in confronts of own creditors and being in liquidity crisis. The indebtedness of the South Korean shipowning company would go around on 4.400 billion the won (3,9 billion dollars).
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
