Reports indicate that the contract on building a 2,500-ton vessel, worth $4.5M, will be carried out over 15 months by the Saigon Shipbuilding Industry Company, a member of Vinashin. Representatives also signed a $90,000 contract for engine testing services. Danish Fabricius and ISC Consulting Engineers signed the bulk of the agreements. The Saigon Shipbuilding will begin building the 2,500-tonne ship in early 2006. Fifteen Danish shipbuilding companies, three large financial institutions and the Danish Embassy in Hanoi have joined forces with Vinashin and Vietnam National Shipping Lines (Vinalines) to organise a workshop on cooperation and development in shipbuilding industries in Vietnam and Denmark.