Friday, August 12, 2011

Hyundai-Vinashin eyes earnings jump

Hyundai-Vinashin Shipyard (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 of South Korea for the first time.

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

The 56,000-DWT S046 ship, 18.3m in length and 18.3 m in height, and having a speed of 14.5 sea miles per hour, which was being built under a contract signed 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, is the fourth ship HVS has built for the Hi Gold 22 International S.A. (Hi-Invest) of the RoK. The ship is scheduled to be launched in February, 2012 and transferred to Hi-Invest one month later.

HVS was established in 1996 as a joint venture between the Hyundai Heavy Industry Group and Vietnam Shipbuilding Industry Group (Vinashin).

After more than 10 years of providing ship repair services, HVS switched to newbuilding-dedicated shipyard in March.

This year, HVS plans to hand over 12 fully made ships, earning a total turnover of US$490 million, a 67 percent increase on the previous year.

Published : August 11, 2011



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