After many years in difficulties, Hyundai Vinashin Shipyard Limited Company sees brighter signs in 2014 as tens of ship building contracts have been signed...
After many years in difficulties, Hyundai Vinashin Shipyard Limited Company sees brighter signs in 2014 as tens of ship building contracts have been signed.
In recent years, due to the global economic downturn, a lot of ship building factories in the world have cut jobs or even closed. Hyundai Vinashin (HVS) Shipyard Limited Company also met difficulties in getting new orders. Ship building price sometimes dropped by 40% but the company still kept working. It suffered loss in 2013.
This year, HVS has signed contracts to build newly 15 ships for customers from Italia, Greece, Singapore, Spain and Korea, including 4 cargo ships with 61,000 – 87,000 tons in load and 11 oil tankers with 39,000 – 50,000 tons in load. Each ship values from USD25 million to USD30 million. HVS also plans to launch 15 ships this year. The company strives for a total turnover of USD430 million, increasing by 117% year-on-year.
Nevertheless, the company will continue loss in 2014 because value of contracts signed in 2013 is low while current cost for production and labor is higher. As forecast, the company’s business will better in 2015.
 |
| Building ship at Hyundai Vinashin |
With the support of the parent company Hyundai Mipo Dockyark, HVS targets to hand over 15 ships to clients with a total turnover of USD500 million in 2015.
To overcome difficulties and develop stably, HVS abides by quality standards and supply good services to ship owners. Additionally, the company can cut cost by saving materials, electricity, water, etc. The company also will arrange manpower reasonably and give more train to laborers. Significantly, HVS will invest more in infrastructures for ship building, expand its workshop and equip more machines.
T.T
