STX Pan Ocean Embarks on Enterprise Transformation Project With IBM Korea and STX ForceTec21 March 2006
STX Pan Ocean, one of the world'slargest dry-bulk shipping companies, has appointed IBM Korea and STXForceTec to transform STX Pan Ocean's core processes and IT infrastructureas part of a two year, US$15 million enterprise transformation project.
The project aims to create the business and technology infrastructurenecessary for STX Pan Ocean to grow and diversify its business and combatthe challenges faced by the shipping industry. Shipping companies globallyare threatened by rising raw material costs, exchange rate fluctuations,the slow down in the growth of the world economy, and industryconsolidation.
STX Pan Ocean's corporate objective is to become one of the world's topfive shipping companies. To grow, STX Pan Ocean is changing its revenue mixby: diversifying into LNG shipping, expanding its tanker, containership andcar and truck carrier operations, and strengthening its existing core drybulk business. STX Pan Ocean also plans to leverage market opportunitiespresented through STX Shipbuilding, STX Engine & other STX subsidiaries.
"This initiative will allow STX Pan Ocean to improve its competitivenessand become a leading shipping company. The listing of STX Pan Ocean offersus a fresh start. By transforming our processes and supporting technology,we will be better positioned to diversify our business, drive growth andimprove our ability to respond to rapidly changing customer needs. Thisproject is a key part of our future success," said STX Pan Ocean President,Jongchul Lee.
The project will streamline the shipping company's processes such as:sales, shipping services, finance and accounting, customer informationmanagement, and strategic business management, as well as improve itstechnology infrastructure including: networks, IT security, and informationmanagement systems.
Phase I of the project, scheduled for completion by June 2007, will improvethe shipping company's global customer service network and enhance theresponsiveness of its finance systems for early settlement and betterresponsibility management.
"Our business competitiveness will be maximized through the enhancedservices we will be able to offer our customers. This project gives us theopportunity to not only improve our current operations, but also supportour growth and plan to diversify from our current position as one of theworld's leading bulk carriers," explained YongHee Byun, Executive VicePresident in charge of STX Pan Ocean digitalization.
Building on its base as an IT service provider for the manufacturingindustry through its work with STX Shipbuilding, STX ForceTec aims tobroaden its capabilities: "This project expands our experience inconsulting, system implementation, and maintenance for the shippingindustry. We will learn advanced business and technology methodologies andapproaches through our collaboration with IBM Korea," said Hyojung Kim,President of STX ForceTec.
According to Sungyoul Lee, General Manager, Business Consulting Services,IBM Korea, IBM has amassed a unique set of consulting and systemsintegration skills in the shipping industry.
"We are very pleased to be able to assist one of the world's leadingshipping companies to transform its core business processes and technologyinfrastructure. Through our collaboration with STX ForceTec we look forwardto delivering solutions that will allow STX Pan Ocean to operate in waysnot previously possible and grow in an increasingly challenging marketenvironment," said Mr Lee.
About STX Pan Ocean
STX Pan Ocean is one of the world's largest dry-bulk operators and has morethan 39 years of experience in the shipping industry. STX Pan Oceancurrently operates a fleet of 57 owned vessels and 200 vessels on charter.It transports cargo such as steel products, iron ore, coal, palm andvegetable oils, sugar and logs. It also offers other shipping services,including containers, car carriages and tankers. It is the leader in theKorean market in the dry bulk sector in terms of deadweight tonnage (DWR),and, as of 31 Dec 04, is also ranked in the top 10 globally in terms of DWTcapacity of its owned dry bulk fleet. It is an indirect subsidiary of STXCorp, which operates in a wide variety of businesses.
About IBM Business Consulting Services
With consultants and professional staff in more than 160 countriesglobally, IBM Business Consulting Services is the world's largestconsulting services organization. IBM Business Consulting Servicesprovides clients with business process and industry expertise, and theability to translate that expertise into integrated, adaptive, on demandbusiness solutions that deliver bottom-line business value. For moreinformation visit www.ibm.com/bcs.
For more information contact:
IBM KoreaEunjin Kim+822 3781 8423kejin@kr.ibm.com
or
IBM Asia PacificCaroline Lisle+61 408 224 482carlisle@au1.ibm.com
SOURCE: IBM
Source: marketwire
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