Vinashin bags $2bn shipping contracts

The Viet Nam Shipbuilding Industry Group (Vinashin) has signed 22 contracts worth $2bn for shipbuilding, maritime transportation, developing ancillary industries for Viet Nam?s shipping fleet and financing and insurance, reports the Vietnam News Service.

The contracts, signed at the Vietship shipping exhibition in Hanoi, include the construction of 16 cargo vessels for Norway?s Jebsens, a 16,800 dwt cement carrier for KGJS (Norway) and a contract to build a 11,000 dwt dry cargo ship for Kanematsu of Japan. Most of the nine shipbuilding contracts will not be delivered until after 2010.