Trai Thien to buy 16 ships worth $470 million from Vinashin

Trai Thien Group has signed a contract to buy 16 vessels worth $470 million from Vinashin, Vietnam's largest shipbuilding conglomerate by sales, Thoi Bao Kinh Te newspaper reported Monday. The first of the vessels, which will have capacity ranging from 34,000 to 56, 000 deadweight?tons, will be delivered from early next year, the newspaper said without citing a specific source.