Hyundai Vinashin builds two large ships

The joint venture of HVS – Hyundai Vinashin Shipbuilding Co Ltd has finished building two large ships with loading capacity of 56,000 tonnes and 37,000 tonnes yesterday Aug 16.

Work on these two cargo carriers started in November 2009 and were officially launched on July 30, 2010. These two ships were expected to be handed over to foreign partners next October.

These are two among seven ships to be built within this year since the shipbuilder changed its business line from repairing ships to making ships from August 2008 up to now. The joint venture has only focused on shipbuilding sector since early 2010.

The shipbuilding factory in Ninh Thuy Commune, Ninh Hoa Dist, Khanh Hoa province is the largest joint venture between Vinashin Economic Group and South Korea-based Hyundai Group. After being put into operation for 11 years, the factory has repaired over 950 ships from all over the world, making seven new ships, with total gained revenue of over $1 billion, of which export value counted for 80%. – Vietstock

Tags: Hyundai Vinashin, Vietnam Shipbuilding industry

Posted by VBN on Aug 17 2010. Filed under Shipbuilding. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry