Vietnam yard wins RoK contract

The Pha Rung Shipyard Company, part of the Viet Nam Ship Building Industry Corporation (Vinashin), signed a contract to build five ships for the Forturne Marine Company of South Korea. The contract is Vinashin’s first contract to export ships to Korea.

The 6,500 dwt product tankers will measure 110 m long and 18.20 m in width and will be built at a cost of around $11 million each using the latest design technology. Work on the newbuildings will commence in late 2005, with the first ship scheduled for delivery 18 months later.