Vinashin gets Japanese boost

Vinashin?s subsidiary, Nam Trieu Shipbuilding Industry, last Friday signed a contract to build two 56,200-DWT bulk carriers for Japan?s Itochu Co. Nam Trieu expects to complete the first ship in December 2008 with the second scheduled in May 2009.

These two ships are the first in a potential 15-ship series of small Panamax bulkers that will be built under Japanese supervision.

This is the third biggest export contract Vinashin has won and follows on from a contract to build 16 53,000 DWT bulk carriers for the UK and another contract to build a number of 610 TEU container ships for Germany.