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Vinashin bags $2bn shipping contracts

Vinashin bags $2bn shipping contracts

Hanoi: The Viet Nam Shipbuilding Industry Group (Vinashin) has signed 22 contracts worth $2bn for shipbuilding, maritime transportation, developing ancillary industries for Viet Nam's shipping fleet and financing and insurance, reports the Vietnam News Service.

The contracts, signed at the Vietship shipping exhibition in Hanoi, include the construction of 16 cargo vessels for Norway's Jebsens, a 16,800dwt cement carrier for KGJS (Norway) and a contract to build a 11,000dwt cargo ship for Kanematsu of Japan. Most of the nine shipbuilding contracts will not be delivered until after 2010, the shipbuilder said.

Vinashin also signed contracts to build containers for the American company Leasing Container Waterfront and the Taiwanese company Leasing Container Neo Tech. "Made-in-Viet Nam containers will travel around the world, asserting Vinashin's reputation in the international shipping market," Nguyen Hong Anh, general director of Vinashin-TGC Container Company is reported to have said.  [13/03/08]