Vietnam Ocean Shipping, the country’s largest state-owned shipping company, has approved the "2024 Ship Investment Plan Amendment," marking the start of its largest fleet expansion in history. After a 10-year gap in new ship orders, the company plans to purchase two second-hand Supermax bulk carriers and build eight new vessels.
The new orders include four 62,000–66,000 DWT bulk carriers, priced at up to $40 million each, and four 50,000 DWT MR tankers, costing up to $52 million each. The total investment for these eight vessels could reach $368 million. Shipyards in China, South Korea, Japan, and Vietnam are being considered for construction.
Currently operating a fleet of 13 ships, including bulk carriers, tankers, and container ships, Vietnam Ocean Shipping is looking to modernize its aging fleet, with some vessels nearing the end of their service life. To finance the new ships, the company has secured commitments from various financial institutions.