Marine Log - January 2009 - (Page 17)

SHIPBUILDING Strategic Marine’s Vietnam facility is building two 143m Dive Support Vessels for Marfield Limited VIETNAM STRETCHES ITS PORTFOLIO ietnam has emerged as one of the new names among the world’s top shipbuilding nations. As of mid2008, Lloyd’s Register-Fairplay had placed Vietnam sixth in the world with a 1.4% market share, behind Korea, China, Japan, Germany and the Philippines. It is an impressive feat for a country that had to build a shipbuilding infrastructure from scratch. State-owned Vietnam Shipbuilding Industry Corporation (Vinashin), formed in 1996, represents about 80% of the country’s shipbuilding capacity. Initially, Vietnam’s shipbuilding concentrated on building domestic tonnage, but has since attracted more sophisticated ship orders for export. For example, Vinashin’s Bach Dang Shipbuilding Industry Co. Ltd. recently booked an order for four 4,500 m3 ethylene carriers for Italy’s Mediterranea di Navigazione for delivery between 2009 and 2011. To create a domestic marine equipment infrastructure, Vietnam has been looking to attract, invest and create partnerships with international suppliers. According to the Foreign Investment Department under the Ministry of Planning and Investment, Vietnam attracted $62 billion in Foreign Direct Investment in 2008. Among those investing in Vietnam are ship propulsion suppliers MAN www.marinelog.com V Diesel and Wartsila. In 2004, then MAN B&W Diesel A/S signed a licensee agreement with Vinashin. Starting in 2010, Wartsila slow-speed diesel engines will be manufactured under license by Vinashin at its engine works. SHIPYARD INVESTMENT Foreign shipbuilders have also set up shop in Vietnam. Strategic Marine, headquartered in Western Australia, purchased its 136,500 m 2 facility in the Dong Xuyen Industrial Zone in South Vietnam in 2007. Strategic Marine (V) Co. Ltd. has won about $100 million in orders, including contracts for two 143m Dive Support Vessels and a Well Simulation Vessel from Singapore’s Marfield Limited. This month marks the year anniversary of the steel cutting ceremony for the first newbuild at Hyundai-Vinashin Shipyard Co., Ltd. The ship, due for delivery this October, is the first of fourteen 56,000 dwt bulk carriers for Germany’s E. R. Schiffahrt. What’s noteworthy about the event is that it also marks the beginning of the end of ship repair at Hyundai-Vinashin. The shipyard is a joint venture between the Hyundai Group (70%) and Vinashin (30%). Since it was established in 1999, the shipyard has repaired almost 900 ships, positioning itself as one of the world’s top repair yards. However, by the end of August 2009, Hyundai-Vinashin will switchover entirely to new construction. The shipyard will have an annual capacity to build 15 ships. SUPERSIZE ME Back in 2005, Hyundai-Vinashin made a name for itself by “super-sizing” five Pure Car Truck Carriers (PCTC) for Sweden’s Wallenius Lines. The mid-body lengthenings stretched the ships from 199.1m to 227.9m. Similar work is now being carried out by Hyundai-Vinashin for Hoegh Autoliners as part of an ambitious fleet renewal and expansion. Hoegh Autoliners, headquartered in Oslo, Norway, contracted with Hyundai-Vinashin to lengthen 10 PCTC’s. So far lengthenings have been completed on four vessels—Höegh Detroit, Höegh Berlin, Höegh Tokyo and Höegh Asia. The lengthening, which involves the insertion of a 28.8m midbody, increases each of ship’s capacity from 6,100 to 7,600 Car Equivalent Units (CEUs), making the ships the largest in the Hoegh Autoliners fleet. Vinashin is also building four 199m Horizon Class 7,000-CEU PCTC’s for Hoegh for delivery between 2009 and 2011 and eight 4,900 CEU car carriers for Ray Car Carriers. ML JANUARY 2009 MARINE LOG 17 http://www.marinelog.com

Table of Contents Feed for the Digital Edition of Marine Log - January 2009

Marine Log - January 2009 Contents Editorial Second Thoughts Update Inside Washington What's On Your Hull? That Sinking Feeling Newsmakers Tech News Contracts Wake Up Call From Mumbai Events Security Guide Vietnam Stretches its Portfolio ML Buyer's Guide ML Marketplace Marine Salvage

Marine Log - January 2009

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