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