Marine Log

July 3, 2006

Viet Nam wins shipbuilding orders worth $4.5 billion

The Viet Nam Shipbuilding Industry Corporation (Vinashin) signed shipbuilding contracts with foreign customers, including companies in Japan, Germany and Israel, worth nearly $4.5 billion in the first half of the year, reports the state-controlled Vietnam News Agency.

The ships ordered are in the 5,300 dwt to 56,000 dwt size range.

Vinashin completed 29 new ships of 1,000 to 3,000 dwt in thesame six month period.

Vinashin is working with Japanese and German firms to build cargo ships of 8,700 to 56,300 dwt and containerships of 900 to 1,100 TEU and with PetroVietnam to build oil tankers.

Vinashin is upgrading its 10 shipbuilding subsidiaries with the aim of making Viet Nam one of the world's four largest shipbuilding countries by 2015.