Vinashin launches second Diamond 53

Nam Trieu Shipbuilding Industry Co, a subsidiary of the Vinashin, recently launched a 53,000 dwt bulk carrier. The vessel is the second of 21 contracted to Vinashin and its companies by the British group Graig, with the first one launched back in April at the Ha Long shipyard. The entire contract is valued at over $400 million.

The 21-ship contract with Craig was among ten major contracts Vinashin won last year which included nine 34,000 dwt bulkers for the UK, five 6,500 dwt chemical and products tankers for South Korea, and eight container ships for Germany.

Vinashin earlier this year announced a target of $1 billion in production value for 2006, which would represent a year-on-year increase of 45%.