Vietnam Suspends Vinashin Chief

Wednesday, July 14, 2010

According to a July 14 report from Bloomberg, Vietnam Shipbuilding Industry Group Chairman Pham Thanh Binh was suspended from his post as the government began an investigation into financial difficulties at the state-controlled company. Vinashin, as the shipbuilder is known, doesn’t have enough funds for some projects after its customers and lenders were hit by the global recession that started in 2008, the Ministry of Transportation said July 1. The company also over diversified its businesses and hasn’t managed its cash flow and debt properly, according to the transport ministry statement.

(Source: Bloomberg)

Maritime Today


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

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

Shipbuilding

Rolls-Royce Azimuth Thrusters Ordered for New Tug

Rolls-Royce has won an order for US255 FP z-drives from San Francisco’s Vessel Chartering LLC, a wholly owned division of Baydelta Navigation. The thrusters will

ClassNK Amends IGC Code Rules and Guidance

Classification society ClassNK has amended its Rules and Guidance for the Survey and Construction of Steel Ships in response to the latest industry developments,

Russian Sub 'Stary Oskol' Enters Black Sea

Russia’s Stary Oskol submarine, the third boat in Project 636.3 series for the Black Sea Fleet, on a voyage to its permanent base has passed the Bosporus and Dardanelles straits,

News

Tanker Allision on the Piscataqua River

The U.S. Coast Guard says it is continuing to monitor the condition of the chemical tanker Chem Venus, after it allided with three unoccupied, moored sailboats

Broadband Upgrade for MSC Cruises

Intelsat S.A. has been selected by Marlink to deliver fast, high quality Intelsat EpicNG broadband connectivity to Mediterranean Shipping Company’s (MSC) cruise ships.

PALFINGER Finalizes Harding Acquisition

The PALFINGER Group closed the acquisition of 100 percent of the shares in Herkules Harding Holding AS, i.e. the globally operating Harding Group, supplier of lifesaving

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Offshore Oil Pod Propulsion Port Authority Salvage 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: 0.0804 sec (12 req/sec)