Vinashin on road to recovery

Viet Nam Shipping Industry Group (Vinashin) and Viet Nam National Shipping Lines (Vinalines) yesterday signed a framework agreement to build 20 new vessels.

Two contracts to build four vessels were signed, three of 22,500 tonnes cargo and one of 34,000 tonnes.

Chairman of Vinashin Nguyen Ngoc Su said the company had built 32 vessels for Vinalines from 2003 until 2009.

He said that in the next three years, Vinashin would build another 40 vessels for Vinalines.

Since July, Vinashin and Vinalines have worked closely to implement the Prime Minister's order to restructure Vinashin.

Agreement on Nov. 22 aims to show that Vinashin can regain its prestige and continue developing so that it can escape from financial difficulties.

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