RoK-VN joint venture to build three big ships

The Hyundai Vinashin Shipyard Co Ltd (HVS) recently held a keel-laying ceremony in central Khanh Hoa province for the construction of three large ships for its foreign partners.
The Hyundai Vinashin Shipyard Co Ltd (HVS) recently held a keel-layingceremony in central Khanh Hoa province for the construction of threelarge ships for its foreign partners.

The cargoship coded S059 was ordered by the Huyndai Merchant Marine Co., Ltd ofthe Republic of Korea (RoK) for the first time.

The 200m long and 18.3 m wide ship, with a capacity of 60,000 DWT, wasexpected to be completed and launched in early November and deliveredto the RoK shipowner in January, 2012.

The56,000-DWT S046 ship, with length of 18.3m and height of 18.3 m, andhaving a speed of 14.5 sea miles per hour, which was being built under acontract inked between HVS and the Geden Lines shipping company ofTurkey , will be also transferred at the end of January, 2012.

The S067-coded ship, 187m in length, 27.8m in width and 15m in height,was the fourth ship HVS had built for the Hi Gold 22 International S.A.(Hi-Invest) of the RoK. The ship was scheduled to be launched inFebruary, 2012 and transferred to Hi-Invest one month later.

Established in 1996, HVS was a joint venture between the Hyundai HeavyIndustry Group of the RoK and Vietnam Shipbuilding Industry Group(Vinashin).

After more than 10 years of providingonly ship repair services, HVS switched to ship building in March.This year, HVS planned to hand over 12 fully made ships, earning a totalturnover of 490 million USD, a 67 percent increase on the previousyear./.

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