STX Green Logistics acquires Sun Ace Shipping, aims to become a comprehensive shipping company (South Korea)

According to shipping company STX GreenLogics, STX Shipping has received a loan from Busan Bank's Marine Investment Finance Department, which has strengths in the shipping and marine sector, and is taking over ownership of mid-sized shipping company Sun Ace Shipping.
Through the acquisition of Sun Ace Kaiun, STX Green Logistics will become a comprehensive shipping company with a wide range of vessels, from small to large, and will gain a foothold for business expansion.
STX Green Logistics' sales in 2024 are expected to exceed 80 billion won (approximately 8.595 billion yen), while Sun Ace Shipping's sales are expected to reach 1.2 billion won (approximately 1.25 billion yen).
If the company joins STX, it can expect stable growth while securing shipping capacity. The acquisition of Sun Ace Kaiun is also expected to contribute to the growth of STX, a general trading company. STX and STX Green Logistics are currently
Following this acquisition, the company plans to expand synergies by investing and forming alliances in the shipping and logistics sectors to strengthen its business competitiveness.
San Ace Kaisha, which transports bulk cargo such as steel and coal mainly in Asia.
In 2022, Un recorded an annual steel transportation volume of 4.55 million tons and sales of 77.6 billion won (approximately 8.3447 billion yen).
An STX Green Logistics official said, "We will actively manage our business after personnel division in 2023.
With the acquisition of Sun Ace Kaiun, we hope to grow into a global shipping company."