Feature 1 | VietNAmese shipbuildiNg
Shipbuilding’s rising star
Vietnam’s shipbuilding star continues in the ascendant. A special report by
Hugh O’Mahony.
B
y 2015, Vietnam’s shipbuilding
industry has set its sights on
the number four slot in world
rankings.
Some US$3billion will be invested in new
facilities over the next decade. The entire
$750m raised in the nation’s first sovereign
bond for the international market, in 2005,
was given to state-owned shipbuilder
Vinashin (Vietnam Shipbuilding Industry
Group), which was tasked with developing
shipbuilding as key to the development of
the national economy.
Vinashin’s deliveries in 2007 are expected
to be 271% above those sustained in 2006,
amounting to 468,390dwt.
If all options are taken into account,
Vinashin’s orderbook now stands at over Vinashin chief business officer, Nguyen Quoc Anh: shipbuilding is playing a key role in
US$10 billion and numbers over 100 vessels. government plans for the wider maritime industry.
The list includes a long series of 53,000dwt
bulkers, three 105,000dwt Aframax tankers
for Petrovietnam, a 150,000dwt Floating DNV-classed Handymax bulk carriers. ‘Our target is not to stay with simple ships,
Storage Offloading (FSO) vessel, container The shipowner now has some 21 ‘Diamond because there will be big competition from
vessels of up to 1730TEU, and small LPG 53s’ on order at Vinashin, with a further the new and private yards in China,’ said Mr
carriers. 10 ‘Diamond 34’, 34,000dwt vessels also Anh. We will try to concentrate on niche
While anxieties have surfaced over confirmed. markets where there is less competition. We
the direction of the World Economy, Working with KPMG, Vinashin was intend to be building ro-pax ships after 2010
shipbuilding is set to boom for the next now heading towards a public rating in and we need to prepare now.’
four years at least, and now is reckoned to early 2008, in a move Mr Anh said would Steps are also in place to deliver design,
be an ideal time for Vietnam’s ambitions to bring about new levels of transparency for as well as construction know-how. Poland’s
bear fruit. The race is on to see if the builder the state-run group. CTO is acting in a consultative capacity over
can gain sufficient experience to build a He added that Vinashin’s six shipping the construction of a new 150m long model
range of high quality ships while retaining line subsidiaries currently operated basin with its own cavitation tunnel at Hoa
its low cost base. If so, it could remain most tonnage equivalent to 728,818dwt (84 Lac, intended to be up and running within
resilient in the case of any downturn. ships) but that this would increase to 1.5m two years. Meanwhile, Vinashin has formed
Vinashin oversees 27 operational dwt (154 ships) within five to seven years, a joint venture – Vinashin Kitada – which
shipyards and 11 more that are under with the new tonnage a mixture of tankers is looking to develop a new Handysize bulk
construction. It also owns six shipping of between 50,000dwt and 100,000dwt, carrier design. The Vietnamese shipbuilder
companies, nine construction companies, containerships, and bulk carriers. These is also working with Far East Design to
and 12 joint ventures. ambitions would help Vinashin deal with come up with detailed designs at shipyard
Vinashin chief business officer, Nguyen fluctuating demand. level for a 7500m
3
LPG carrier, to be built
Quoc Anh, said that shipbuilding played a But the shipbuilder is looking beyond at the southern Sesco yard for Sinpetro and
key role in government plans for the wider its current international start-up phase, to Class NK specifications, and a 13,000dwt
maritime industry to contribute 50% of the to more complex ships, including larger cement carrier.
nation’s gross domestic product by 2015. LPG carriers and the ro-pax market. ‘Naval architects need five to seven
The builder made its true international Mediterranea di Navigazione, for example, years to mature, working in a good
breakthrough in 2004, when Graig recently ordered four 4500m³ LPG units engineering environment,’ said Mr Anh.
Shipping entered the Vietnamese market from the Bach Dang shipyard, to be ‘Our engineers and architects will grow as
with an initial order for five 53,000dwt, delivered in 2009 to RINa class. projects unfold.’ NA
16 The Naval Architect January 2008
NA Jan - p16.indd 16 04/01/2008 15:38:37
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