Foreign Shipping Lines Seek Shipbuilding Contracts with Vinashin

3:26:30 PM | 7/8/2005

Foreign Shipping Lines Seek Shipbuilding Contracts with Vinashin

 

A lot of foreign ship owners are placing many orders asking the Vietnam Shipbuilding Industry Corporation (Vinashin) to build seagoing vessels and oil tankers with loading capacity of from 3,700 tonnes to 70,000 tonnes for them.

 

"Currently, ship owners from the UK, Denmark, the Netherlands, Germany, Sweden, Greece, Japan and others have arrived at Vinashin’s shipyards to negotiate new shipbuilding contracts," a Vinashin’s senior official said.

 

"We are discussing deals to build cargo vessels with loading capacity ranging from 3,700 DWT to 32,000 DWT, 5,000-DWT multifunctional container carriers, 13,500-tonne crude oil tankers and refined oil tankers of from 12,900 tonnes to 70,000 tonnes," he said.

 

Last year, Vinashin signed contracts to build seventeen 53,000-DWT cargo vessels worth nearly  US$400 million for the UK's Graig Investments Group, a 10,500 cargo freighter for a Japanese ship owner and many others.

 

To meet the growing ship demand from foreign shipping companies, Vinashin has plans to invest some US$1 billion to upgrade its affiliate Nam Trieu, Bach Dang Ha Long and Pha Rung shipyards capable of building 30,000-70,000-tonne ships and build new shipbuilding complexes in Hai Duong, Nam Dinh, Nha Trang and specially Dung Quat Shipyard, which is able to build 100,000-200,000-tonne oil tankers.

 

In the meantime, Vinashin also has mapped out a large investment in building satellite factories to supply ship components for its major subsidiaries, the Vinashin official added.

 

The corporation has joined hands with foreign partners including South Korea's Hyundai and Denmark’s Aalborg Industries Ltd. to set up joint ventures to design ships, repair ships and produce ship boilers and deck equipment.

 

Vinashin, the largest shipbuilder in Vietnam, attained VND7,525 billion ( US$478 million) in production value and VND5,560 billion ( US$353 million) in revenues in 2004, up 41.5 per cent and 49.8 per cent against 2003.

 

This year, Vinashin expects to increase its export revenues by 10 per cent.

 

Vietnam now has about 60 shipbuilding and maintenance companies owned by the Ministries of Fisheries and National Defense and Vinashin.

  • Vietnam & World Economy