Vietnam’s largest shipbuilder, state-run Vinashin, has announced that the group won contracts worth up to US$12.3 billion to build seagoing vessels over the next few years.
Of the figure, the deals ordered by foreign companies are reported to account for $10 billion of the total while the rest has come from domestic firms under the umbrella of Vietnam Marine Corporation.
Under a Vietnam government strategy, Vinashin will build a national shipping fleet to meet domestic transport and 30 percent of the export transport demand for crude oil. The company aims to rack up revenues of $1 billion this year, up from $690 million in 2005. Selling off shares of its 21 remaining affiliates will be a key target for Vinashin this year.
The shipyard will now focus on oil tanker building. The company is capable of making 100,000-ton crude oil tankers and 150,000-ton floating storage and offloading units.
Vinashin said it was in need of VND40 trillion ($2.5 billion) to carry out projects to reach the goal of $1-billion in ship exports by 2010.
As part of the effort to reach the target, Vinashin plans to invest in upgrading 10 major shipyards capable of building 3,000-10,000 ton ships.
It also plans to build seven shipyards, six shipbuilding industrial parks and seven shipbuilding industrial complexes throughout Vietnam.
Vinashin has mobilized its investment and business capital through the Shipbuilding Industrial Finance Company.
The group will set up a financial leasing company, a securities company, an insurance company, and shipbuilding industrial investment fund to attract domestic and foreign capital sources
Along with its 20 subsidiaries, it has helped Vietnam to become the world’s 11th largest shipbuilder, on track to increase its rank by at least four spots in the near future.
According to international marine groups, Vietnam has high potential as a marine equipment and technology importer with plenty of room to develop into one of leading shipbuilding countries in the world.
Of the figure, the deals ordered by foreign companies are reported to account for $10 billion of the total while the rest has come from domestic firms under the umbrella of Vietnam Marine Corporation.
Under a Vietnam government strategy, Vinashin will build a national shipping fleet to meet domestic transport and 30 percent of the export transport demand for crude oil. The company aims to rack up revenues of $1 billion this year, up from $690 million in 2005. Selling off shares of its 21 remaining affiliates will be a key target for Vinashin this year.
The shipyard will now focus on oil tanker building. The company is capable of making 100,000-ton crude oil tankers and 150,000-ton floating storage and offloading units.
Vinashin said it was in need of VND40 trillion ($2.5 billion) to carry out projects to reach the goal of $1-billion in ship exports by 2010.
As part of the effort to reach the target, Vinashin plans to invest in upgrading 10 major shipyards capable of building 3,000-10,000 ton ships.
It also plans to build seven shipyards, six shipbuilding industrial parks and seven shipbuilding industrial complexes throughout Vietnam.
Vinashin has mobilized its investment and business capital through the Shipbuilding Industrial Finance Company.
The group will set up a financial leasing company, a securities company, an insurance company, and shipbuilding industrial investment fund to attract domestic and foreign capital sources
Along with its 20 subsidiaries, it has helped Vietnam to become the world’s 11th largest shipbuilder, on track to increase its rank by at least four spots in the near future.
According to international marine groups, Vietnam has high potential as a marine equipment and technology importer with plenty of room to develop into one of leading shipbuilding countries in the world.