Vietnam on June 26 kicked off construction on its first self-designed 20,000 DWT cargo ship, the largest self-designed ship to be built in the Southeast Asian nation, in the northern port city of Haiphong.
The freighter, which is 168.37m long, 25m wide and 12m high and has a hold of 26,500 cubic meters, is designed by the Vietnam Shipbuilding Industry Science Institute.
Pha Rung Shipyard, an affiliate of the state-run Vietnam Shipbuilding Industry Corp. (Vinashin), takes charge over the construction of the ship.
“Vietnam Register of Shipping (Vires) will supervise the construction of this ship, becoming the first in the country to empower registration authority on shipbuilding,” a Pha Rung Shipyard official said.
The vessel, costing over VND260 billion (US$16.45 million), is built for Vinashin Maritime Co., also an affiliate of Vinashin - the largest shipbuilder in Vietnam.
“The construction of the ship is part of Vinashin’s program to expand its ship fleet,” said the official.
The freighter is expected to be launched by November 2006 and for transference by the second quarter of 2007.
Pha Rung Shipyard, located in the northern city of Haiphong, posted total revenues of VND79.5 billion (US$5.03 million) in the first three months of 2006, up 208 per cent on year.
Vinashin earned US$491 million from building ships for domestic and foreign companies, up 41 per cent on year in 2005 and expects US$1 billion revenues in 2006.
Vietnam & World Economy
Vietnamese
