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Marine Log

February 22, 2007

DNV and Vietnam Register sign cooperation agreement

DNV and Vietnam Register (VR) have recently signed a corporate agreement to strengthen the positions of both classification societies in the growing Vietnam market.

The agreement was signed at a ceremony in Hanoi by Tor Svensen, COO DNV Maritime and Nguyen Van Ban, General Director of Vietnam Register. It extends and stregthens the long standing relations between the two societies.

The agreement outlines a cooperation in training and work sharing for single and dual classed vessels in the areas of newbuilding, ships-in-operation and certification of materials and components for the shipping industry within Vietnam.

The Vietnam shipping industry is developing rapidly. Vietnam's stated ambitions are to become a nation having a shipbuilding industry with a technology level equal to that in other regional nations. Accordingly, the localization rate of domestically made products will rise to 60-70 percent of the products, effectively serving the plan to promote export and create good conditions for other industries of the nation to develop, according to Vinashin's shipbuilding strategy.

DNV is now the leading foreign class society in Vietnam, with over 70% of the current newbuilding orders placed in the Vietnamese yards. These orders include bulk carriers, car carriers and tankers for international and domestic owners.

"Signing the agreement between DNV and VR is seen by both class societies as a necessary and important step in meeting the continued rapid and extensive growth of Vietnamese Shipbuilding Industry," says Tor Svensen, DNV.