Fabricius cuts deal with Vinashin

Further to our earlier report (see 15 November) that Danish shipowner Fabricius had placed its first shipbuilding contract with Vietnam?s shipbuilder Vinashin, further details have now emerged about the contract for a small-sized vessel. The contract for the 2,500 DWT container ship is worth $5 million and the 67 metre long vessel will be powered by a 1,600-HP diesel engine and is scheduled for delivery in early 2007.

This order marks the beginning of Fabricius? commercial involvement Vietnam according to John Schlotfeldt, md of Sea Saigon Shipping Ltd. (SSS), Fabricius? joint venture in Vietnam. Schlotfeldt says that Fabricius would finalize another “big project” with Vinashin. This second contract, with a total value of around $120 million, is for Vinashin to build six medium-sized vessels of a new design and high speed. Each 12,500DWT vessel will be about 120 metres long and the contract is due to be finalized in the beginning of next year.

SSS is also planning to set up a Danish maritime school with support from the Denmark Embassy in Vietnam, aiming at developing the company?s current seamen resource of 150 people to around 1,000 in the coming years.

To date, Vinashin has completed negotiations on shipbuilding contracts for the next five years with a total value of $1.5 billion.