STX Pan Ocean
STX Pan Ocean is a South Korean shipping company, one of the largest in the world. It is an affiliated company of STX Corporation. It has gained a worldwide reputation in the bulk carrier service as well as services including container ships, oil tankers and LNG carriers. Its sales volume reached 5,117 million dollars last year. The number of its employees is approximately 2,500, and the number of vessels owned by the company exceeds 340. STX Pan Ocean has been selected as the first-place company in the "Korea's Most Admired Company" by the Korea Management Association Consulting (KMAC) for three consecutive years.
STX Pan Ocean operates a fleet of 400,000-ton very large ore carriers known as Valemax ships. On 5 December 2011 the first ship of her type, Vale Beijing, suffered structural damage during her first cargo loading, a leak in her ballast tank, which put the ship in danger of sinking at the port of Ponta da Madeira in Brazil. However, the disaster was avoided, and after having been anchored off the harbour for over three months, Vale Beijing left São Luís for Sohar, Oman. After unloading, she returned to STX shipyard in South Korea for inspection and repairs.
On Jun 7, 2013 STX Pan Ocean went bankrupt.[1]