Vinashin Eyes Future Growth

Tuesday, August 08, 2006
It has only been a decade since the Vietnam National Shipbuilding Corporation (Vinashin) started operations yet it has been able to accumulate sizeable capital and gain the government’s confidence in its capacity to become a force in Vietnam’s shipbuilding industry and worldwide. From an initial investment capital of more than $10min 1996, the capital increased to $9.4b with a total turnover of $2.07m in 2006. The total value of contracts signed with domestic and foreign shipowners was $5b by June 2006. Vietnam Investment Review reports that Vinashin has enough work to do from now to 2010 with a turnover from exporting ships being estimated at $2b per year. Currently a plan is being considered so that in the future, a new form of the group will be composed of a parent company (Vinashin Group) to be formed on the basis of reorganizing the management and operating body and member units of the current Vietnam Shipbuilding Industry Corporation with full legal status and inherit legal rights and obligations from the shipbuilding corporation. The group will operate on a multi-sectoral and multi-owner basis in which state ownership will play the controlling role. The relationship between the Vinashin Group and its subsidiaries will be implemented within the law and according to the clauses in the charter of the economic group. What is new is that the government has allowed a multi-sectoral and multi-owner organization at a higher level and more comprehensively than other individual groups. Another basic point is that, with this form of group, there will be no mechanisms of administrative command. Instead financial instruments and other instruments including the market, and science and technology will be used. Officials hope that with this form of economic group, Vinashin can easily integrate with the world economy. For the immediate future, the Vinashin Group will attempt to successfully build cargo ships of 80,000dwt, oil tankers of 100,000-300,000dwt and other ships of various types as part of the plan submitted to the government. (Source: Vietnam Investment Review)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter April 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Shipbuilding

Samsung Heavy Loses $4.6-bln FLNG Order

South Korea’s shipbuilder Samsung Heavy Industries (SHI), the world’s third-largest shipbuilder,  has received a contract termination for three floating liquefied

Englishman: 11th Humber Tug Bears the Name

Humber tugboat operator SMS Towage has drawn on an old name for the latest addition to its fleet. The new Englishman is the 11th Humber tug to bear the title, in

Fincantieri Orders Heat Power Systems for Cruise Newbuilds

Italian shipbuilding group Fincantieri has selected Climeon’s heat power system Climeon Ocean for its energy efficient solutions, purchasing six Climeon Ocean 450M

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Pipelines Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.0540 sec (19 req/sec)