Hyundai - Vinashin Co. Ltd (HVS) is a joint venture between Vietnam Shipbuilding Industry Corporation (currently Vinashin Business Group) and Hyundai Mipo Dockyard (South Korea) with establishment permit from the Ministry of Planning and Investment on September 30, 1996. The joint venture shipyard was inaugurated on April 26, 1999.
The dockyard, with 100 hectares of land and 170 hectares of water surface in southern Van Phong Bay, Khanh Hoa Province, builds and repairs ocean-going ships, converts ocean-going ships and fabricates offshore steel frameworks. With investment capital of US$171.5 million, the shipyard is rated among the most modern in Southeast Asia, and can handle ships up to 400,000 DWT. At present, HVS is staffed by more than 5,000 professional and well-trained employees, including 3,900 regular workers, 68 South Korean experts and more than 1,000 contract workers.
After 11 years, with eight years in official operation (1999-2007), the company has raked in aggregate revenues over US$545 million (or VND8,720 billion). Turnover in 2006 quintupled that in 1999. More than 80 per cent of company turnover was from foreign clients. HVS tax payment grossed US$14.5 million (or VND233 billion). HVS turnover increased 37 per cent annually. In 2007, HVS targets US$144.5 million revenues (or VND2,312 billion), an increase of 10.1 per cent against 2006. Currently, HVS has business relationships with 230 shipping firms in more than 30 countries worldwide.
To date, HVS has processed more than 775 ship calls worldwide. In 2005, HVS elongated five car and truck carriers for Wallenius of Sweden. With the successful elongation, the capacity of each vessel was increased by 20 per cent (from 6,000 vehicles to 7,340 vehicles). The conversion of each ship required 2,400 tonnes of steel. This was the world’s first ship elongation, a milestone in HVS history, heightening its position in the world. In 2006, HVS elongated two automobile carriers for Eukor Car Carrier Inc. (South Korea). In 2007, HVS will convert three car carriers for this company.
Hyundai - Vinashin is an international shipyard that has earned the ultimate confidence of shipping firms around the globe.
In heavy industry, the company created regular jobs for nearly 5,000 local people, 70 per cent in Khanh Hoa Province and 30 per cent from other localities.
Currently, 68 Vietnamese people hold key positions in managing and operation production. Many of them have been in charge of important projects.
HVS provides a variety of training programmes for employees like TWI (Training Within Industry) syllabus for division chiefs and Workmanship syllabus for unit chiefs and workers, with knowledge from the United States, the United Kingdom, France, South Korea and Japan. To train its employees, HVS has built and operates a modern technical training centre with investment capital of VND7 billion, which provides basic knowledge for shipbuilding, welding and non-destructive testing (NDT).
At the moment, HVS has established its brand on the regional and global market. The company’s services are highly appreciated by shipping firms from Europe and Japan. HVS is a trademark in ship building, repairing and conversion, and fabricating major offshore steel frameworks.
With the motto “In HVS, ambition - challenge - future,” and “customer satisfaction,” the entire Hyundai Vinashin Shipyard is committed to overcome challenges to become a leading shipyard in the world.
Hai Trung
Vietnamese
