STX signs boxship deal with India

02 Dec 2010

STX Dalian Shipyard, a subsidiary of STX Group, has signed a $240 million contract with the state-owned Shipping Corp. of India (SCI) to build three containerships.

The contract is the second the shipbuilder has signed within a month and this latest deal is seen as a sign of recovery in the shipbuilding after a years-long slump. Under the agreement, the Dalian shipyard will start to deliver the newbuildings in 2013. The shipyard is planning to expand its shipping portfolio away from a heavy dependence on bulk and car carriers.

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