Vietnam Sea Transport and Chartering Joint Stock Co (Vitranschart-coded VST) proposes to sell Phuong Dong No2, a ship. The relevant procedures for selling the ship has been completed excepting for price agreement with the purchaser, said the firm’s representative

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Vitranschart offering Phuong Dong 2 ship

Prime Minister Nguyen Tan Dung has decided to establish a steering committee for restructuring the country’s largest ship builder, Vinashin, to help it rapidly stabilise and develop after financial problems. Under a decision signed on August 13, the PM appointed Deputy PM Nguyen Sinh Hung as head of the committee, Deputy PM Hoang Trung Hai as

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Committee set up to restructure giant Vinashin

Ministry of Public Security police last night detained the ex-chair of Vietnamese shipbuilding giant Vinashin Business Group, Pham Thanh Binh, over alleged mismanagement charges. The arrest was made following a police raid on Binh’s residence in the capital city of Hanoi.

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Vinashin ex-chair detained over mismanagement

The State Audit of Vietnam (SAV) said that it will not audit the state-owned Vinashin Business Group this year despite startling revelations of the group. That move is aimed to avoid overlapping with the Government Inspectorate which plans to inspect the firm’s operations from now to the end-year, Le Minh Khai, SAV’s deputy director said, adding

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Vietnam to not audit Vinashin this year

AXS-Alphaliner, an information platform that calls itself a “worldwide reference in liner shipping”, has ranked two Vietnamese shipping companies in the list of 100 leading container shipping lines in the world. The Vietnam National Shipping Lines (Vinalines) and Bien Dong Shipping Company were ranked 67 and 68, respectively.

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Vietnam shipping lines make world top 100

In an interview with the Saigon Times, Pham Chi Lan, former vice chairwoman of the Vietnam Chamber of Commerce and Industry, says that the timing and manner of Vinashin’s debt restructuring are rather unexpected and run counter to the structural reforms that State-owned enterprises are adopting. “It is inadvisable that inspections of Vinashin have been postponed from last year to this year,” Lan says

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Restructuring Vinashin: Pros and Cons

The Hyundai-Vinashin Shipyard Company in the central province of Khanh Hoa on June 15 handed over a 56,000 DWT cargo vessel named the E.R. Barcelona to Germany’s company E.R.Shiffahrt.

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Huyndai Vinashin builds new cargo vessels

Hai Phong City’s Bach Dang Shipbuilding Industry Corp yesterday launched the 17,500dwt cargo ship named that will be exported to Korean buyer Shinsung Marine Transportation Co. The ship, named Shinsung Accord, has the capacity of 6,060 horse-power, speed of 13.2 knots an hour.

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Bach Dang shipbuilder launches 17,500dwt cargo ship for export to Korea

Vinashin marine electrical cable plant with a designed capacity of 8,000 tonnes of products a year, yesterday was inaugurated. The plant, costing total $200 million, covers 45,000 sqm in Hoa Khanh Industrial Zone, Lien Chieu Dist, Da Nang

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Vinashin inaugurates $20m marine electrical cable plant