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Viet Nam Shipbuilding Industry Corporation News

28 Feb 2007

Ha Long Shipyard Begins Construction on 54,000-ton Freighter

Construction of a 54,000-toncargo ship worth $30m started on Feb. 27 by the Ha Long Shipyard in northeastern Quang Ninh province. The H172 freighter, to be built at an estimated cost of around $30m, will be 623 ft. long.It is designed by the Science and Technology Institute of Viet Nam Shipbuilding Industry. It will be built under the supervision of DNV, a registration agency of Norway, and installed with state-of-the-art equipment to be able to go to all seaports all over the world. The ship is scheduled to be delivered by the Ha Long shipyard company, an affiliate of the Viet Nam Shipbuilding Industry Corporation (Vinashin), to the Vinashin Ocean Shipping Company, in March, 2008. Source: VNA

01 Feb 2007

Vietnam Shipbuilding Corp Delivers Cargo Ship To Japan

The Ben Kien Shipyard, a subsidiary of the Viet Nam Shipbuilding Industry Corporation (Vinashin), on Jan. 31 delivered a 8,700-tonne cargo ship to the Japanese Kanematsu Corporation. This was the second of four 8,700-tonne cargo ships built by the shipyard for Kanematsu. The Kaiki freighter, 111.7m long, 18.6m wide and 9.6m high, was designed by the Japanese AZ Company and built under the supervision of the Japanese NK registration agency. The first freighter, Grace Casablanca, was delivered to Kanematsu in June last year. Source: VNA

29 Aug 2006

Saigon Shipmarin to Build First Vessels for Export

The Saigon Shipbuilding and Maritime Industry Company (Saigon Shipmarin) signed a contract with Japan's Kanematsu Corp. to build two 6,500-tonne cargo vessels. These are the first cargo vessels that Saigon Shipmarin, a member of the Viet Nam Shipbuilding Industry Corporation (Vinashin), has built for export. The first vessel is expected to be handed over in March 2007 and the second, in July. The company has invested over VND 300 billion (over US $18 million) to expand its production scale, train technical workers, and raise its capacity to build and repair 10,000-12,500 tonne ships. It is also producing two 6,800-tonne vessels under a contract with the Satraser Trade and Maritime Service Co.(Source: Nhan Dan)

28 Aug 2006

Saigon Shipmarin to Build First Vessels for Export

The Saigon Shipbuilding and Maritime Industry Company (Saigon Shipmarin) signed a contract with Japan's Kanematsu Corp. to build two 6,500-ton cargo vessels. The vessels will be the first cargo vessels that Saigon Shipmarin, a member of the Viet Nam Shipbuilding Industry Corporation (Vinashin), has built for export. The first vessel is expected to be handed over in March 2007 and the second, in July. The company has invested over $18m to expand its production scale, train technical workers, and raise its capacity to build and repair 10,000-12,500 ton ships. Source: Nhandan

16 Aug 2006

Pha Rung Builds its Largest Cargo Vessel

The Pha Rung Shipyard in the northern port city of Hai Phong on August 15 began work on its largest-ever cargo ship of 34,000 DWT and an oil tanker of 6,500 DWT. As part of Pha Rung's contract to build 8 cargo ships for Graig Invetments of the UK, the 34,000 DWT ship, worth 26.5 million USD, is designed utilising state-of-art technology and will meet all international conventions on maritime operation. This is the most modern and largest ship that Pha Rung, a subsidiary of the Viet Nam Shipbuilding Industry Corporation (Vinashin), has ever built, a company executive said, adding that the ship is expected to be handed over to its owner in 18 months.

03 Aug 2006

Vinashin Eyes Investments

The Viet Nam Shipbuilding Industry Corporation (Vinashin) will need $2.5b to carry out projects under the strategy on ship exports until 2010. To meet the target of $1b evenue from ship exports in five years, Vinashin plans to invest in building and upgrading infrastructure of 10 large shipyards to make them capable to build 3,000-10,000 ton ships. It also plans to build seven shipyards, six shipbuilding industrial parks and seven shipbuilding industrial complexes in all of Vietnam. Vinashin will increase its investment and business capital through the Shipbuilding Industrial Financial Company. It will set up a financial leasing company, a securities company, an insurance company, and a shipbuilding industrial investment fund to attract domestic and foreign capital sources.

10 Jul 2006

Vietnam Strives to Become Fourth Largest Shipbuilder

According to reports, the Vietnam Shipbuilding Industry Group (Vinashin Group) will exert an all-out effort to make the country the world's fourth largest shipbuilder by 2015. President and CEO of Vinashin Group Pham Thanh Binh spoke about the plan at a ceremony in Ha Noi on July 8 to announce the Prime Minister's decision on the establishment of the Vinashin Group and to mark the 10th founding anniversary of the Viet Nam Shipbuilding Industry Corporation (Vinashin), the predecessor of the Vinashin Group. The Vinashin Group will concentrate on expanding existing shipyards and building additional ones to form major shipbuilding complexes in the country's northern, central and southern regions.

19 May 2006

Vinashin Gets Nod for Restructuring

The Government Office announced a proposal to establish the Vietnam Shipbuilding Industry Economic Group (Vinashin Group) by restructuring the Viet Nam Shipbuilding Industry Corporation (Vinashin) had been approved. The Vinashin Group would become a multiple-owner business with the State holding a majority stake, comprised of State-owned and equitised subsidiaries, it said. Under the plan, the group would function as the financial investor for its other concerns, and control the capital holdings, technology, trademarks and markets of its subsidiary companies. The Government also issued official approval of the establishment of a holding company for the Ha Noi-based Viet Nam Shipbuilding Industry Group.

25 Apr 2006

Vinashin to Invest $18.9M in Shipyard Project

The Viet Nam Shipbuilding Industry Corporation (Vinashin) recently announced it would invest $18.9m in the construction of a shipyard in the southernmost province of Ca Mau. Vinashin, the country’s largest shipbuilder, said it had selected a 54 hectare site in the province’s Nam Can District for the new facility, which is to be used to build ships displacing 5,000-10,000 tonnes, the average size of its current fleet. Up to 4,000 employees will work at the new shipyard once it is operational in 2008, and the State-owned company is already working with provincial authorities to train local workers. Vinashin said its latest project was part of its plan to increase local content in shipbuilding to 65 per cent by 2010, which would require investment of about $633m.

25 Apr 2006

Vietnam, Japan Sign Shipbuilding Contract

The Viet Nam Shipbuilding Industry Corporation (VINASHIN) signed a contract to build two 56,200-tonne cargo ships for its Japanese partners in Ha Noi on April 21. These two ships are the first among 15 56,000-tonne cargo ships that will be built by VINASHIN under the contracts with the Japanese partners' supervision. The first cargo ship is expected to be handed over in December 2008, and the other will be completed in May 2009. (Source: Viet Nam News Agency)

22 Feb 2006

Companies to Assist Vietnamese Shipbuilding

The Viet Nam Shipbuilding Industry Corporation, STX company of the RoK and Danish Man B&W Diesel Ltd signed a cooperation agreement in Ha Noi on Feb. 20 on building a 25,000-horsepower diesel plant in northern Hai Phong port city. This took place during a conference on ship-building cooperation opportunities, which held in Ha Noi, on Feb. 20 with the participation of representatives of Vinashin and 25 Danish enterprises. Viet Nam will have a high demand for ship-building materials and equipment over the next 10 years, according to experts, promising long-lasting and effective cooperation opportunities in shipbuilding technology transfer for Danish enterprises. (Source: Viet Nam News Agency)

12 Jan 2006

Vinashin Sees $493M Turnover in 2005

The Viet Nam Shipbuilding Industry Corporation (Vinashin) generated a turnover of $493 million last year, marking a 41 percent jump over 2004 revenue. Last year the corporation signed a number of major construction contracts for large cargo ships. Many of the deals were made with countries with advanced shipbuilding capacity, including Denmark, the UK and Poland. Last August, Vinashin closed a $68 million deal to supply four container ships to Denmark’s Rederiet Fabricius A/S. Fabricius Marine placed a $4.3 million order for a 2,500 DWT container ship, scheduled for delivery by late 2006, while the company took on a $212 million contract to build eight cargo ships for UK-based Graig Investment Company.