Vietnam wins export contracts

Nha Trang Shipyard of Vietnam Shipbuilding Industry Corporation (VINASHIN) has won two contracts to build four new cargo ships for companies in Norway and Laos.

The contracts with Laos LS Tourism and Transport Company is worth $63 million for two ships of 20,000 and 22,500 DWT. The smaller of the two newbuildings is expected to be delivered in late 2008 and the second will be handed over in the second quarter of 2009.

The other contract is signed with Norway’s Calypso Group to build two ships with a total value of $71 million for delivery in 2010.