STX Shipbuilding Co., owner of Europe’s largest shipyard, said it received a contract to build two bulk carriers worth 161.6 billion won ($129 million) from a customer in Asia.
The vessels, which can each carry 81,000 metric tons of commodities, will be delivered by December 31, 2011, the Jinhae, South Korea-based company said Monday in a regulatory filing, without identifying the buyer.
The world’s worst financial crisis since the Great Depression has raised concerns demand for new vessels will fall as demand for raw materials and consumer goods weakens. Global trade will probably grow 4.1 percent in 2009, the slowest pace in seven years, according to the International Monetary Fund’s forecast on October 8.
STX Shipbuilding gained as much as the daily limit of 15 percent, the most in more than five weeks, to 17,800 won as of midafternoon Monday in Seoul trading.
A total of $39.9 billion has been invested in new bulk carriers in the first eight months, 35 percent less than a year earlier, according to London-based Clarkson Plc., the world’s largest shipbroker.
The vessels, which can each carry 81,000 metric tons of commodities, will be delivered by December 31, 2011, the Jinhae, South Korea-based company said Monday in a regulatory filing, without identifying the buyer.
The world’s worst financial crisis since the Great Depression has raised concerns demand for new vessels will fall as demand for raw materials and consumer goods weakens. Global trade will probably grow 4.1 percent in 2009, the slowest pace in seven years, according to the International Monetary Fund’s forecast on October 8.
STX Shipbuilding gained as much as the daily limit of 15 percent, the most in more than five weeks, to 17,800 won as of midafternoon Monday in Seoul trading.
A total of $39.9 billion has been invested in new bulk carriers in the first eight months, 35 percent less than a year earlier, according to London-based Clarkson Plc., the world’s largest shipbroker.