STX wins mega boxship order

STX Shipbuilding has won a $1.43 billion order from a Greek shipping company to build nine post-Panamax container ships. The deal calls for the South Korean shipyard to deliver the 12,400 TEU vessels to Nike Group by November 2011.

This is the first time STX has been asked to build container ships of over 10,000 TEU and the shipbuilder has raised its sales target for the year to $10 billion from the previous $5.5 billion on increased orders for high-priced ships.

“The contract has paved the way for STX to develop into a large shipyard that can manufacture high-end ships,” the company said. “We will expand into such areas as very large crude carriers, icebreakers and cruise ships.”

With the latest deal, STX shipbuilding has clinched orders worth $7.2 billion so far this year. Last year, the company secured newbuilding orders worth $4 billion.