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Vinashin doubled exports

Vinashin doubled exports
Vietnam Shipbuilding Industry Group said revenue more than doubled in the first nine months as it sold vessels to the UK, Japan and South Korea.

Vinashin says sales more than double on exports to Japan, UK

Vietnam Shipbuilding Industry Group said revenue more than doubled in the first nine months as it sold vessels to the UK, Japan and South Korea.

Sales rose to VND19.6 trillion (US$1.2 billion), the Hanoi-based state-owned shipbuilding conglomerate said in a statement sent by fax Monday. The company, known as Vinashin, didn't give figures for the same period last year. Vinashin, which also repairs ships, estimated exports were $478 million, more than double its full-year target.

It exported 19 vessels including three 53,000 deadweight-ton freighters to the UK, two 8,700 DWT boats to Japan, and two 6,500 DWT chemical carriers to South Korea, the statement said.

Sales would increase to VND25 trillion this half, bringing the full-year figure to VND39 trillion, Vinashin said in August.

Vinashin has delayed plans to issue a $400 million bond until the first quarter, Dau Tu Chung Khoan newspaper reported Monday, without saying where it got the information.

The shipbuilder recently appointed KPMG Vietnam as its auditor.

KPMG will audit financial reports, and formulate risk and financial management strategies to help the Vietnamese conglomerate function in conformity with international standards and regulations.

www.TurkishMaritime.com.tr

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