Vinashin Lines Signs Contracts

According to reports, the Vinashin Lines Ltd Co, a subsidiary of Vietnam Shipbuilding Industry Corporation (Vinashin), signed two major shipbuilding contracts this week in Hai Phong. Under the first contract, the Ha Long Shipyard will build one 54,000-tonne ship, 190m long, 32.4m wide and 17.8m high, and with 9,480 horsepower, capable of running at 14 knots. Matching the largest ships yet built in Vietnam, the 54,000-ton vessel will be built at a cost of about $30m. The Ha Long Shipyard will start construction of the vessel in the 4th quarter of 2006 and launch the ship by the end of 2007. Source: Business in Asia Today