Korea-Vietnam joint venture to build three big ships

August 09, 2011 | 13:04
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The Hyundai Vinashin Shipyard Co Ltd (HVS) recently held a keel-laying ceremony in central Khanh Hoa province for the construction of three large ships for its foreign partners.


The cargo ship coded S059 was ordered by the Huyndai Merchant Marine Co., Ltd of the Republic of Korea for the first time.

The 200m long and 18.3 m wide ship, with a capacity of 60,000 DWT, was expected to be completed and launched in early November and delivered to the Korean ship-owner in January, 2012.

The 56,000-DWT S046 ship, with length of 18.3m and height of 18.3 m, and having a speed of 14.5 sea miles per hour, which was being built under a contract inked between HVS and the Geden Lines shipping company of Turkey, will be also transferred at the end of January, 2012.

The S067-coded ship, 187m in length, 27.8m in width and 15m in height, was the fourth ship HVS had built for the Hi Gold 22 International S.A. (Hi-Invest) of Korea. The ship was scheduled to be launched in February, 2012 and transferred to Hi-Invest one month later.

Established in 1996, HVS was a joint venture between the Hyundai Heavy Industry Group of Korea and Vietnam Shipbuilding Industry Group (Vinashin).

After more than 10 years of providing only ship repair services, HVS switched to ship building in March. This year, HVS planned to hand over 12 fully made ships, earning a total turnover of $490 million, a 67 per cent increase on the previous year.


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