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In recent years, despite facing numerous difficulties, the shipbuilding industry has continued its growth momentum, reaffirming its position in the market. Shipbuilding companies in Hai Phong city are striving to develop production, ensure jobs, and increase income for workers.
Fulfilling the ‘dual task’
In the last days of April, despite the sweltering heat, the atmosphere at Pha Rung Shipbuilding Yard is bustling with activity.
Since the start of 2026, the company has launched one 13,000 DWT oil and chemical tanker named YN 04 - NGHI SON. At the same time, it has laid the keel for YN-05, named BS SINGAPORE. This is the fourth vessel in a series of 10 that the company signed with a Korean partner.
In the coming period, the company will sign a new contract to build 10 chemical tankers of 6,500 tons for a Korean ship-owner. Each vessel is valued at about 5 million USD. Besides, the company also repairs an average of 80-90 seagoing vessels per year, with an average repair value of 100,000-120,000 USD per vessel.
However, the implementation and maintenance of contracts for a series of newbuild oil and chemical tankers at Pha Rung is happening while the company is filing for bankruptcy under Government Resolution No. 220, a legal step to address difficulties and restructure the business.
Meanwhile, according to the report at the recent 2026 annual meeting of shareholders of Song Cam Shipbuilding Joint Stock Company, the company targets a production value of 1,100 billion VND. This year, it will deliver 24 Damen tugboats, 1 offshore service vessel, and various mechanical items. The company aims for an average worker income of 17.5 million VND per month. However, in the early months of 2026, the conflict in Middle East has driven up raw material and fuel prices. Combined with recruitment challenges, subcontractors not meeting capacity, and other issues, impacting the company's goals.
Finding new directions to sustain shipbuilding capacity
At the end of March, Song Cam Shipbuilding Joint Stock Company launched the modern offshore service vessel ST245, which uses ‘green’ energy, for export to a Norwegian ship-owner. This represents a new approach for the shipbuilding industry to shift to gradually meet the increasingly stringent demands of the international market.
In line with the government’s Resolution No. 220/NQ-CP, during the bankruptcy process, shipbuilding companies must ensure production continuity and development, while preserving infrastructure, human resources, and avoiding waste of resources.
Therefore, according to General Director of Pha Rung Shipbuilding One Member Limited Company Mr. Vu Huu Chien emphasized that the company was committed to maintaining a stable workforce of skilled managers and workers, upholding the company's reputation to continue developing shipbuilding and repair facilities, as well as maintaining the shipbuilding industry's capacity in accordance with the policies of the Government and Hai Phong City.
Hai Phong News
