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Vinalines plans $2bn programme

Vinalines plans $2bn programme
Vietnam National Shipping Lines is planning a $2bn fleet expansion between 2011 and 2015.

Vinalines plans $2bn newbuilding programme

Vietnam National Shipping Lines is planning a $2bn fleet expansion between 2011 and 2015.

Bu Quoc Anh, vice president of Vinalines, said the shipowner planned to build 40 vessels in Vietnamese yards at a total cost of around $2bn.

Dr Anh said the state-owned company was looking for support from the Vietnamese government and the Ministry of Finance for financing of the newbuilding programme.

?We must receive more support from the government,? he told the Asia Pacific Maritime conference in Singapore.

The focus of the newbuilding programme will be on larger sized vessels, he said. The aim is to increase the fleet in total by 6m to 7m dwt. At present Vinalines has 150 vessels totaling 2.7m dwt.

Vinalines is also planning to acquire secondhand tonnage including VLCCs, aframaxes and product carriers.


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