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.