Positive signals from shipbuilding businesses
- NEWS
- 11-05-2024
With Resolution 220/NQ - of the Government, the bankruptcy roadmap for Vietnam Shipbuilding Industry Corporation (SBIC, formerly Vinashin) and 7 subsidiaries of SBIC has been activated, the implementation of bankruptcy will is an opportunity for shipyards in SBIC to enter a new phase, seizing this opportunity to develop...
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Some shipbuilding enterprises under SBIC have many orders in 2023
In 2023, Nam Trieu Shipbuilding Company Limited (SBIC's main company) has exceeded many planned targets. In particular, construction of two new 65,000WT cargo ships, two transshipment cranes, and one 7,000m3 oil tanker. Repaired 40 trains, so far 38 trains have been handed over...
The company's total production and business value in 2023 reaches more than 484 billion VND, exceeding 18.4% of the plan. In 2024, Nam Trieu sets a production value target of more than 567 billion VND, exceeding 17.2% compared to 2023. Currently the company is negotiating with shipowners Damen Group and Dutch IHC Group on cooperation in building New types of dredgers with capacity of 2,300m3 and 31,000m3.
At Pha Rung Shipbuilding Company Limited (subsidiary of SBIC), in 2023, Pha Rung has signed 07 newbuilding contracts, and is implementing construction of 06 products including 24,000T ships, 6500T cargo ships, 03 ships. 13,000T chemical oil for Korean ship owners, 01 mooring buoy for domestic ship owners, handed over 02 products including 24,000T ship - Truong Nguyen Sky and 6,500T cargo ship, constructed and repaired 63 ships and handed over 55 ship turns, demolition for 02 ships Star 18 and Binh Minh 79...
The total production value of Pha Rung in 2023 will reach more than 416 billion VND, of which shipbuilding will reach about 237 billion VND and repair will reach 162 billion VND. Total revenue and other income reached more than 402 billion VND, completing 100% of the year plan.
Mr. Vu Huu Chien, General Director of Pha Rung Shipbuilding Company Limited, said that in 2024, the Company will carry out construction of 6 new products including: 5 13,000T chemical oil tankers and one mooring buoy, ensuring safety. Delivering 2 - 3 products, at the same time implementing construction and repairing 67 ships, handing over 61 ships, continuing to expand the repair market for foreign customers such as Russia, Korea, Middle East, India... .
It is expected that in 2024, the company will exceed the plan by 10-15%. It is expected that in the years 2025, 2026, 2027, with new products that have been signed and will be signed, the company's production growth will reach an average of 10-15%/year.
Current operating results are improving, but the amount of money earned is not enough to pay interest and repay old loans from the Vinashin period. Nam Trieu shipbuilding and Pha Rung shipbuilding in Hai Phong are still on the list. bankruptcy with parent company SBIC
Also according to Resolution 220/NQ-CP, only Song Cam Shipbuilding Joint Stock Company in Hai Phong is not bankrupt along with parent company SBIC, because it has no bad debt and operates effectively.
In 2023, Song Cam Shipbuilding Company will construct 54 new ships and repair 01 ship. Of which, 27 newbuilding products were delivered, including: 04 ships ASD 2811, 08 ships ASD 2813; 03 ships ASD 3212; 08 RSD 2513 ships, 02 SPA 207 ships and 01 oil barge for Canadian Wolverine Group after 21 months of construction... achieved revenue of about 1,012 billion VND, equal to 163% of the plan..
In particular, since cooperating with Damen Group (Netherlands), Song Cam's products have been upgraded to include public service ships, work ships, supply ships, tugboats, firefighting ships, and ships. Maritime rescue, high-speed boats supporting yachts... require modern shipbuilding technology and qualifications according to current international standards.
In 2024, Song Cam aims to focus on exporting shipbuilding products for Damen Shipbuilding Group - Netherlands, in addition to expanding into new building and ship repair markets for foreign customers.
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