STX Pan Ocean Ltd. (STX SP): Lehman Brothers Holdings Inc.
downgraded its view on the Asian bulk shipping sector to ``3- negative''
from ``1-positive'' as the oversupply of vessels in
2009 may be worse than expected. Lehman cut its rating on STX Pan Ocean,
South Korea's largest operator of vessels that transport coal, iron ore
and other commodities, to ``underweight'' from ``equalweight'' and
lowered the target price by 23 percent to S$3.10 from S$4.00. STX rose 6
cents, or 1.7 percent, to S$3.67.
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