in Ho Chi Minh City, wrote recently: “Vietnam is replicating the South East Asian model of
inward-looking
conglomerates profiting from speculation and government favours like Tailand and Indonesia in the 1980s.” Officially Vinashin declined to comment
for this article. However, a source within the organisation in Haiphong told Te Naval Architect: “At the moment we are keeping our heads down. Tere has been a very big upheaval and we expect there to be more. We will try to focus on our own jobs, but it is difficult when there is such constant negative publicity.” Since its fall Vinashin has had two
big reorganisations of management and this past November prosecutors said nine officials, including Pham Thanh Binh, former board chairman of the corporation, were charged with “deliberately acting against state regulations on economic management.” There
are still a slew of foreign
owners who had lined up in Vietnam predominantly for bulkers – mainly 56,000dwt and the Diamond 53,000dwt design. These orders from the likes of Geden, ER Schiffahrt, Norden, Ofer and Unibulk are all set for delivery in 2012. Vinashin has only received one order
from overseas this year; the onus is very much on local lines to help fill the drydocks that are going to become vacant from mid-2012. In July Vinashin inked a contract to build
a pair of car carriers for Norway’s Blystad Group. Vinashin’s Nam Trieu Shipbuilding Industry Corp is to build two 6900 capacity car carriers. The vessels are due to be delivered in October 2013 and April 2014.
Te shipyard previously signed a contract
with Hoegh Autoliners to build two car carriers but the contract was cancelled due to difficulties experienced by Vinashin. Delivery delays or even cancellations
are a systematic problem for Vinashin. It completed just 15 out of 85 newbuilding contracts signed between 2006 and 2010. A Vietnam government inspection report into the debt strapped shipbuilder showed that cancelled contracts accounted for 47% of the group’s debt. The group’s most prestigious order –
three 105,000dwt aframax tankers for a local owner, which are due for delivery next year and will be the largest ships ever built in the former French colony, are, according
to sources in Ho Chi Minh City “woefully behind schedule” and the trio are unlikely to hit the water until 2013 at the earliest. A rare bright spot for the blighted builder
came in July with the delivery of New Vision to sister firm Vinashin Ocean Shipping Co. Te 23,000dwt boxship capable of holding 1730TEU is the largest containership ever built in Vietnam. It was constructed at the northern Ha Long Shipbuilding Industry, one of the 21 yards under Vinashin’s control. Te Germanischer Lloyd-classified ship
is 148m long, 25m wide and 13.5m high and capable of moving at 19.70knots. Te name, New Vision, is one the shipbuilder must abide by if it is to come back to the fore. NA
Keeping its [collective] head down, but Vinashin’s staff expect more disruption at the troubled shipbuilder.
Many foreign shipbuilding companies have invested heavily in Vietnam, but the state- run enterprise, Vinashin, may have to rely on domestic demand for work until the global economic crisis eases.
The Naval Architect January 2012
41
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