Vietnam starts on Panamax bulkers

Work on the building of a 53,000DWT bulk carrier started at the Nam Trieu Shipyard in the northern port city of Hai Phong. This is the first of 15 similar bulkers that Vietnam Shipbuilding Industry Corporation (Vinashin) will build for the UK’s Graig Investment Ltd as part of a $336 million deal. Eight of the ships will be built at the Nam Trieu Shipyard, and the remaining seven, at the Ha Long Shipyard in the northeastern province of Quang Ninh.

The newbuildings, which are 183.2m long, 32.2m depth and 17.5m wide, will be the largest ever to be built in the country and the first unit should be completed by May 2006 with the second unit following five months later.