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Dry Cargo

Back in black: STX Pan Ocean posts much improved 2010 results

Alex Baird

STX Pan Ocean has returned to profitability, posting a net profit of KRW109 billion (US$98 million) for 2010 compared with a net loss of KRW27.6 billion in 2009.

The company cited lower costs and improved demand for shipping services as the main reasons for the turnaround.

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