STX Pan Ocean to set up S'pore unit for LNG operations

KOREAN bulk shipper STX Pan Ocean is getting more involved in the liquefied natural gas (LNG) business with the setting up of a new Singapore unit, STX Pan Ocean LNG, to deal in LNG operations and ship financing for the introduction of LNG carriers. STX Pan Ocean intends to invest US$60 million in the subsidiary, with funding from internal resources.