South Korea's STX Pan Ocean Co. Ltd and Indonesia's state-owned oil company PT Pertamina (Persero) have agreed to set up a shipping joint venture. According to reports, the joint venture will be established in September before starting operations in January, 2010. The JV will focus on shipping of oil and gas produced in Indonesia.
STX Pan Ocean, a subsidiary of STX Group, said co-operation with Pertamina would be extended to shipbuilding and energy-related business.
The company expects to secure a stable flow of shipping cargoes from Pertamina.
It added that STX shipbuilding units could win newbuilding orders in the future when the joint venture company expands its fleet.
STX also plans to create business opportunities in bulker, car carrier, containership and offshore plant sectors as well as tanker and LNG carrier market in Indonesia.
STX Pan Ocean, a subsidiary of STX Group, said co-operation with Pertamina would be extended to shipbuilding and energy-related business.
The company expects to secure a stable flow of shipping cargoes from Pertamina.
It added that STX shipbuilding units could win newbuilding orders in the future when the joint venture company expands its fleet.
STX also plans to create business opportunities in bulker, car carrier, containership and offshore plant sectors as well as tanker and LNG carrier market in Indonesia.