STX Pan Ocean announced on Tuesday a decision to invest in the shipbuilding of a heavy lift carrier in a move to diversify into the new business.
Singapore-listed STX Pan Ocean will invest approximately $80m in the building of one semi-submersible heavy lift carrier.
“The investment in the new carrier is to strengthen the company's diversification into the new business,” the company said in a statement.
It added that the investment is not expected to have any material effect on earnings of the company for the current financial year ending 31 December 2012.