Pan Ocean in profit

Restructured Korean shipowner and operator (previosuly STX Pan Ocean) Pan Ocean more than doubles profit. Pan Ocean reported net earnings of $83 million in 2016 comparing to $34.1 million in 2015. STX Pan Ocean was taken over by Korean Harim Group in May 2015. Furthermore, after restructuring Pan Ocean bought dry bulk carriers of former Hanjin Shipping for $42 million in total.
The company has also placed a $210m order at Singapore-listed Yangzijiang Shipbuilding for up to seven open-hatch carriers.