STX Secures $1.4b Contract

According to reports, STX Shipbuilding Co. has won a $1.4b order to build nine container ships. The deal from a European shipping company calls on the shipbuilder to deliver the vessels by November 2011, STX Shipbuilding said in a regulatory filing with the Korea Exchange.

The shipbuilder has raised its sales target for the year to $10b from the previous $5.5b on increased orders for high-priced ships. Source: Business in Asia Today