Hoa Phat invests in building two new ships

Monday, Aug 08, 2022 15:27

Hoa Phat Shipping Joint Stock Company and Ha Long Shipyard signed a contract to build two dry-bulk carriers. — Photo courtesy of Hoa Phat

Hoa Phat Shipping Joint Stock Company has signed a contract with Ha Long Shipyard to build two dry-bulk carriers with a capacity of 24,500 tonnes. This activity is part of a fleet development strategy to meet the group's raw material and finished product transportation needs.

These two dry-bulk carriers are expected to enter service in the fourth quarter of 2023 and help optimise the steel product production and supply chain in line with Hoa Phat Group's fleet diversification strategy.

In addition, Hoa Phat Shipping Company owns three large Kamsarmax series vessels ranging in tonnage from 80,000 to 90,000 tonnes, transporting bulk cargoes and serving one of the group's transportation needs for coal and ore materials.

In the long-term strategy, Hoa Phat plans to have 15-20 vessels of all types to meet the growing demand for transportation of raw materials and finished products, especially after the completion of the Dung Quat 2 Integrated Steel Complex project. — VNS

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