Van Phong Port News

The Vietnamese Prime Minister has approved a project of the STX Shipbuilding Co Ltd of South Korea to build a shipyard in the Van Phong economic zone in the central province of Khanh Hoa, said the Asia Pulse According to the head of the zone's Management Board, Nguyen Trong Hoa, the shipyard will be the largest in the region with an initial investment capital of $500m. The shipyard will be built in Van Phong Port. In the first phase of the project, the port will be capable of building 15 ships with a total capacity of about 900,000 DWT. Source: Asia Pulse

A company official said Vinalines would continue to invest in building new seaports in Dinh Vu, off the northern port city of Hai Phong, in Quang Ninh Province; Hiep Phuoc in HCM City; Cai Mep-Thi Vai in Ba Ria-Vung Tau Province, in addition to Vung Tau container port. The company is aiming for an average cargo capacity of between 50-55 million tonnes at each of its ports by 2010. Vinalines is also looking to turn Van Phong port in the central province of Khanh Hoa into a modern international entrepot. Vinalines expects to complete the first phase of its building plans for logistical and maritime services nationwide by 2010. Vinalines said it is also planning to move into banking and finance, as well as shipbuilding and transport-infrastructure development.