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October 10, 2005

Vietnam yard wins Korean order

A Korean chemical and products tanker operator has placed a $55 million order for six 6,500 dwt vessels with a Vietnamese yard.

The 110 m x 8.2 m ships will be built for Fortune Maritime Company at Pha Rung Shipyard Company, a subsidiary of Vinashin--the Vietnam Ship Building Industry Corporation.

According to the Vietnam News Agency, the contract is Vinashin's first from the Republic of Korea.

Construction of the first ship will reportedly start late this year with delivery 18 months thereafter.