Vinashin posts record figures

The Vietnam Shipbuilding Industry Corporation (Vinashin) reported an output value of over VND9 trillion ($567 million) and revenues of over VND5.6 trillion ($351 million) in the first nine months of 2006. The figures represented year-on-year increases of 40.7% and 73.3% respectively.

In the period, Vinashin signed nearly $5 billion in contracts to build ships for partners from Japan, Germany, England, Poland and Israel. The corporation is under negotiations with Japanese and German partners, such as Kanematsu, Sojist and Mitsubishi, to build cargo vessels with capacities ranging from 8,700 tonnes to 56,300 tonnes and 900-1,100 TEU container ships.

It is also cooperating with the Vietnam Oil and Gas Corporation (Petro Vietnam) to build three 100,000 tonne oil tankers. Work on the first oil tanker is scheduled to start in this month at the Dung Quat Shipbuilding Factory. To fulfill its yearly target, the corporation will focus on upgrading infrastructure, making use of domestic and foreign capital sources, and taking measures to reduce production costs.