- Receiving an Order for Two Bulk Carriers from a Ship Owner in Asia

- Enhancing Competitiveness for Ship Orders in the Global Production Network Connecting Europe, Korea and China

STX Offshore & Shipbuilding again won new ship order, going on its consecutive orders all around the year to the end of 2009. STX Offshore & Shipbuilding (President: Hong Kyung-jin) announced on December 21 that it recently obtained new order for two 37,000 DWT bulk carriers from a ship owner in Asia.

The 189-meter long and 30-meter wide bulk carriers, which can attain a speed of 14.1 knots, are expected to be built at its Jinhae Shipyard and delivered by the end of 2011. As the shipbuilding industry has not totally gotten away from the economic downturn, STX group has continued to receive new ship orders this year thanks to its tripartite global production network connecting Europe, Korea and China, displaying its global competitiveness once again.

STX Offshore & Shipbuilding has steadily won orders for eight unites of Very Large Ore Carriers worth $880 million, ocean test ship, trailing suction hopper dredger and side stone dumping vessel. In addition, STX Europe also achieved orders for various special ships and ocean supply vessels such as polar icebreaker tugboat, helicopter carrier, polar marine exploration ship, and Platform Supply Vessel (PSV).

With the global production network, STX will actively focus on niche markets in ship orders and develop new types of ships for more orders next year. Furthermore, it is scheduled to spur its promotion to receive orders for large-size and higher value-added ships.

STX Offshore & Shipbuilding President Hong Kyung-jin said, ¡°Despite the harsh market condition, STX could achieve its goals this year by enhancing its competitiveness and increasing R&D investment.¡± ¡°We will actively make efforts to develop new types of ships to win ship orders, becoming a shipbuilding company with the world¡¯s leading productivity and technology,¡± President Hong added.