The orders for the HD Hyundai subsidiary bring its cumulative total to 199 ships over 15 years since entering the shipbuilding business.
The company was established in 1996 as a joint venture between Hyundai Mipo Shipbuilding and Vietnam National Shipping Corporation, and it initially engaged in repair and conversion projects before transitioning to new shipbuilding ventures in the late 2000s.
Since then, Hyundai Vietnam Shipbuilding has delivered a total of 157 ships, starting with the 56,000-dwt bulk carrier E.R. Bergam in 2009, and consolidated its position as the largest shipyard in Southeast Asia. It is also considered the first and most successful case of overseas expansion in the Korean shipbuilding industry.
Vietnam ranks fifth in the global shipbuilding industry with an order backlog of 1.24m CGT with Hyundai Vietnam Shipbuilding accounting for 74.4% equivalent to 924,000 CGT.
With a sales target of $543.8, and plans to deliver a total of 13 ships this year, Hyundai Vietnam Shipbuilding has installed a 700-tonne Goliath crane last year to expand facilities and enhance productivity to achieve a construction capacity of 20 ships by 2025.
“This achievement was made possible through the continuous transfer of technology and know-how from Hyundai Mipo Shipbuilding, as well as the high educational aspirations and diligence of the local Vietnamese workers. With the mindset of representing the Korean shipbuilding industry, all of our employees will strive together with one heart and one mind to make consistent contributions to the local community,” said Jong-chan Lee, president of Hyundai Vietnam Shipbuilding.
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