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Vietnamese yards to survive order downturn, predicts overseas partner

Vietnamese yards to survive order downturn, predicts overseas partner

Ho Chi Minh City: Speaking at the Maritime Vietnam 2006 conference in Ho Chi Minh City yesteray, Damen Shipyards' area director in Asia Pacific, Pim Schuurman, warned of an impending downturn in order intake 'within the next two to three years.'
The 'first cracks' in the current shipbuilding boom were already showing, he said, with increasing prices and delivery times. There currenly exists enough order backlog to fill global yard capacity for 4.1 years, he added, but order intake would soon slow down and 'show up surplus capacity and then the dogfight wil begin.'     
As regards Vietnamese yards, Schuurman said he hoped that by that time there woud be the 'right mix of local expertise and foreign knowhow' - includng access to finance - in place for them to survive.
Damen itself celebrated the launch earlier this week in Danang of a vessel it built in partnership with local shipbuilder Song Thu Corp. Not only was the 3,500hp tug and rescue craft the largest of its type built to date by the yard but it also inaugurated a new 1,400 tonne syncrolift supplied by Rolls-Royce.  [09/11/06]

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