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Report: STX Offshore Gets a Second Chance(marine crane;offshore crane)

stx-offshore-gets-a-second-chance.jpgThe financially troubled shipbuilder STX Offshore & Shipbuilding got a second chance to avoid court receivership as its main creditor said it would examine the company’s self-rescue plan.

Korea Development Bank (KDB) opted for the move after the shipbuilder’s labor union submitted an agreement on a voluntary retirement program and other reductions in work benefits, Korea Timessaidciting industry officials.

Earlier this week, STX Offshore’s creditors, led by the state-run KDB, informed that the shipbuilderwould be placedunder court receivership “in principle” after its union failed to accept the restructuring plan due to proposed workforce reductions. The shipbuilder was given a deadline, which expired at midnight Monday.

The creditors intended to issue refund guarantees for new ships and keep the company afloat, provided that STX Offshore and its labor union agree on the restructuring measures, which included a 75 percent decrease in workforce through voluntary retirement and outsourcing applications from production workers, as well as asking some employees to submit resignations.

The cash-strapped shipbuilder previously filed for court receivership in May 2016. In mid-2017, the Seoul Bankruptcy Court decidedto finalizethe shipbuilder’s receivership process as STX made considerable progress in its economic recovery and managed to adhere to the debt payment schedule proposed under its previous rescue plan.

(marine crane;offshore crane)



hydraulic-orange-peel-wood-grab53488072286.jpgThe orange peel grab has three models, which are: single rope, two ropes, and four ropes. It is an efficient tool that could replace manpower for loading and unloading cargoes, such as iron, ore, clinker and wood under any severe circumstances. The features are: simple structure, easily open and close, convenient operation, etc.
Apply to grab wood,stone, gravels, waster metals, industry waste, construction garbage and daily rubbish.

Based on different demand, there are 2 kinds of type including hydraulic rotary peel grab

and non-rotary type.

● Non-rotary type uses excavator bucket cylinder oil pathway, no need to add hydraulic valve and pipeline.

● Hydraulic rotary type need to add one set of hydraulic valve and pipeline to control cylinders with piston protection device.

(marine crane;offshore crane)