STX launches first China-made ship

SEOUL, Dec. 18 (Yonhap) -- South Korea's STX Group said Thursday it has completed building the first vessel made by its shipyard in China's northeastern port city of Dalian.

The new bulk carrier, which is able to carry 58,000 metric tons of deadweight,
was placed by STX Pan Ocean Co., a shipping unit of STX, the group said in a
statement.
"The launch of the first ship is meaningful for STX as the Dalian shipyard is
poised as a core base of STX's global production networks," STX Chairman Kang
Deok-soo was quoted as saying in the statement.
STX's shipyard in Dalian, named STX (Dalian) Shipbuilding Co., has a backlog of
around US$4.8 billion and is expected to generate $3.8 billion in sales in 2010,
according to the statement.
STX is the first South Korean shipbuilder to build vessels in China.