STX Shipbuilding reports near three-fold rise in orders

STX Group, a midsized South Korean conglomerate, said Tuesday its affiliate STX Shipbuilding Co. has won orders valued at US$4.7 billion in the first half of the year, compared with $1.7 billion a year earlier. The shipbuilding orders it has received so far are roughly 85 per cent of its annual target of $5.5 billion, it said. In June alone, STX Shipbuilding, the world's seventh-largest shipbuilder, clinched orders valued at $1.1 billion.