POSCO reportedly is planning to buy a controlling stakes worth US$333 million from STX Pan Ocean Co. However spokeswoman of POSCO denies this information and said it would not considered any bid for STX Pan Ocean.

It’s said that POSCO and SK Shipping had signed a non-disclosure agreement to explore the purchase of the shipper but would not bid for a stake in STX Pan Ocean. In the background, STX Group is selling entire 35% stake of USD333.29 million held by STX Group affiliates and executives and the management rights.