STX builds for STX Pan Ocean

South Korea-based shipping company STX Pan Ocean Co. Ltd. awarded a contract to STX Shipbuilding to build three ships. The tender for the three ships, priced at $44 million each, was awarded to STX Shipbuilding as that was the only bid received, said STX Pan Ocean, which is listed in Singapore. The three 45,800 dwt product carriers will be delivered in November 2006, January 2007 and March 2007, respectively.