<\/p>\n
Cash-strapped Korean shipbuilder STX Offshore & Shipbuilding Co has won its first order for this year.<\/p>\n
The contract involving the construction of three 6,600 ton petrochemical tankers has been signed with a local shipper, Yonhap reported citing an announcement from the yard.<\/p>\n
The small product tankers are scheduled for delivery in 2022.<\/p>\n
The shipbuilder has been struggling with the ordering draft for quite some time, further aggravated by the ongoing COVID-19 pandemic.<\/p>\n
As a result, the company resorted to various cost-saving measures, including early retirement plans and unpaid furloughs which have seen workers on strike since May.<\/p>\n
The unionized workers went on a general strike on June 1 asking for furloughs to be ended. The shipbuilder went back to work at the end of July after the union and the company agreed to find a buyer for the shipbuilder to put the company back on track.<\/p>\n
STX Offshore was considering to fully suspend its operations should market conditions fail to improve.<\/p>\n
The company has seven orders in the backlog set for delivery in 2021. <\/p>\n
\u00a0STX Offshore has been in the process of restructuring its business over seven years in cooperation with its creditor the Korea Development Bank.<\/p>\n
The post STX Offshore wins 1st, much-needed, order this year<\/a> appeared first on Offshore Energy<\/a>.<\/p>\n world maritime news<\/p>\n","protected":false},"excerpt":{"rendered":" Cash-strapped Korean shipbuilder STX Offshore & Shipbuilding Co has won its first order for this year. The contract involving the construction of three 6,600 ton petrochemical tankers has been signed with a local shipper, Yonhap reported citing an announcement from the yard. The small product tankers are scheduled for delivery in 2022. The shipbuilder has …<\/p>\n","protected":false},"author":1,"featured_media":14872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[2436,9730,1131,2020,8352,1176,2800],"class_list":["post-14871","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news","tag-1st","tag-muchneeded","tag-offshore","tag-order","tag-stx","tag-wins","tag-year"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/14871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=14871"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/14871\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/14872"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=14871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=14871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=14871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}