South Korea-based STX Pan Ocean is one of the three global owners of EGT in Longview, WA.
STX Pan Ocean Co., South Korea’s largest bulk-shipping line, fell by as much as the daily limit in Seoul trading and affiliates tumbled on speculation group companies may sell stock to help pay debt.
“There were rumors about the group planning to sell shares and bonds because they may be short of funds,” said Um Kyung A, an analyst at Shinyoung Securities Co. in Seoul. Um said STX officials told her the rumors were untrue. No one was immediately available for comment when Bloomberg News called STX Group’s media relations office.