STX European unit bags big deal

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STX European unit bags big deal

STX OSV Holdings Ltd., a European unit of Korean shipbuilding conglomerate STX Group, has won a 200 billion won ($179 million) deal to build four platform supply vessels, the group said yesterday. Under the deal with Island Offshore of Ireland, STX OSV will deliver the vessels starting from the third quarter of 2013, it said.

The vessels, each 84.3 meters long and 17 meters wide, will be used to transport goods and equipment to and from offshore facilities, it said.

STX OSV, with its focus on specialized ships, started trading its shares on the Singapore Exchange on Nov. 12 of last year.

The Island Offshore Group is a leading provider of services to the offshore industry managing a fleet of 20 high-quality vessels currently operating in Brazil, Mexico and the U.S.

STX OSV has delivered more than 25 vessels to Island Offshore over the past 10 years.

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