STX Pan Ocean has set aside more than $200m to swell its fleet in a new year. The South Korean shipping company is in the market for six ships and is considering newbuildings, according to a statement to the Singapore Stock Exchange on Tuesday.

“The board of directors...wishes to announce that the company is planning on investing in six vessels including bulkers with the amount of around $203m in 2010."

With such a large amount to spend and with capesize newbuilding prices currently below $60m, STX’s wish list is likely to include a number of large bulkers.

“The vessel investment plan is subject to the vessel order circumstances such as the market condition and the capacity of shipyards. Announcements will be made when the details are settled.”

STX already has a massive fleet of 51 bulkers including eight capesizes, a kamsarmax, seven panamaxes, four supramaxes, eight handymaxes, 19 handysizes and four open-hatch carriers.

Its bulker newbuilding program is almost as extensive comprising eight VLOCs, 12 capesizes, a pair each of post-panamaxes and kamsarmaxes, four supramaxes and 17 handysizes.

It operates 15 chemical carriers, ten boxships and one LNG carrier with one other from each category also on order. It currently has two car carriers with a further four on the way, one multi-purpose unit on the water and a pair of VLCCs under construction.

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