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Discussion Starter · #1 ·
From ThianhnienNews.com -

Vietnam shipyard to build 104,000 DWT oil tankers for US buyer


Vietnam’s Dung Quat Shipbuilding Industry Corp. has signed a US$400,000 deal with the American Bureau of Shipping to build three 104,000 DWT oil tankers.
It did not release any information about the building and handover schedules.

The shipyard is all set to begin building the first of three 105,000 DWT tankers under a contract signed last July with PetroVietnam.

The first will be handed over by the end of 2008, and the second and third by 2009 before the Dung Quat Oil Refinery goes on stream in 2009.

The Vietnam shipbuilding industry’s exports were worth $200 million last year.


Rushie
 

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Not Rushie's fault, but something is very wrong here. Probably something to do with the translation.

Firstly, the American Bureau of Shipping (ABS) is an IACS member classification society, not a shipowner, so these ships are not building ror a US buyer. As stated in the second para, a newbuilding contract was signed with PetroVietnam, who *is* a shipowner and *is* the buyer (based in Vietnam)

Secondly, the sum of $400,000 no way represents the cost of a newbuilding deal. Current newbuilding prices for an aframax tanker stand at around $64-65million.

What I suspect the article is trying to say is that ABS has signed a deal with the shipyard to provide construction supervision for these ships.

Hope that clears up what is a very confusing article.

Phil
 

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Cheers Phil,

I think a lot gets "lost in translation" from the Far Eastern articles.!

Rushie
 
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