Newbuildings on order at STX Offshore & Shipbuilding that are due for delivery from 2017 onwards are unlikely to get built.
Creditors of the Chinhae-based shipyard are unwilling to pump further cash into the company and, as a result, the yard will not be able to start work on new ships, shipbuilding industry sources say.
“The shipyard’s creditors have already put in a lot of money there and they think there is little chance that STX Shipbuilding can survive,” one source said.
