SOUTH Korean operator Pan Ocean Shipping has been renamed STX Pan Ocean Co.
Speaking at a ceremony to mark STX Group¡¯s take-over of Pan Ocean today, Group chairman Kang Deuk Soo said he had been appointed chairman of STX Pan Ocean.
Lee Jong Cheol, managing director of STX is the new executive vice president.
Kang said the plan was for STX Pan Ocean to see rapid development of its existing dry bulk shipping activity, together with growth of its tanker, products carrier, container vessel and car carrier sectors.
There will also be investment in high value markets such as LPG transport.