STX Shipbuilding (Korea) has recently concluded a new shipbuilding deal for three 45,800DWT Product Oil / Chemical Tankers with Target Marine S.A. (Greece). This contract includes and option for up to four more ships. The tankers’ principal dimensions are length 183m, breadth 32.2m and depth 19.1m. MAN B&W 6S50MC engines ensuring vessel’s design speed of 14.5 knots will provide the main propulsion. Delivery of the vessels is scheduled for 2004.

Target Marine is a Greek shipping company that currently owns and operates 14 reefer and bulk vessels. It was reported that this contract is their first order for a tanker in the past ten years. STX Shipbuilding considers it as a great starting point for expanding their market share in Greece and further strengthening their overall position by increasing the order book in this year to 24 ships. Such consecutive orders for building 45,000DWT PC type vessels, the main specialty of STX Shipbuilding, are expected to contribute greatly to improving the yard’s productivity.