Hoa Phat Orders 65,000 DWT Ultramax Bulker at Nam Trieu Shipbuilding
Vietnamese steel giant Hoa Phat Group has recently made a significant decision to enhance its fleet by commissioning a 65,000 DWT Ultramax bulk carrier from the domestic shipyard, Nam Trieu Shipbuilding. The announcement of this order signifies a crucial step in the company’s ongoing fleet expansion project.
Expanding Fleet for Internal Operations
Hoa Phat Group’s move to construct a new Ultramax bulk carrier is part of its strategic efforts to streamline the transport of essential raw materials needed for steel production within its own operations. The design of the ship is being managed by Viet Han Ship Design and Technical Services, a local firm specializing in ship design.
Building a Robust Fleet
Established in 2019, Hoa Phat Shipping—a subsidiary of Hoa Phat Group—has been steadily strengthening its dry bulk fleet. In 2021, the company acquired three secondhand bulk carriers, including the noteworthy purchase of the 80,000 DWT Kamsarmax vessel, “The Prosperity,” for $35 million. Subsequently, the company ventured into larger vessel sizes, with the introduction of the 110,000 DWT bulk carrier, “The Momentum,” in July 2025, primarily dedicated to transporting iron ore and coal from various international markets to the group’s steel production complex in Vinh City.
Strategic Long-Term Plans
Hoa Phat Group has outlined ambitious long-term goals to assemble a fleet comprising approximately 15 to 20 vessels. The company envisions using larger ships for international raw material imports and smaller vessels for domestic transportation of finished steel products. Nam Trieu Shipbuilding, the selected contractor for Hoa Phat Group’s latest vessel project, is a subsidiary of the Shipbuilding Industry Corporation (SBIC) of Vietnam. The company is well-equipped with advanced facilities, including floating and dry docks capable of accommodating a wide range of vessel sizes, highlighting its expertise in both shipbuilding and ship repair.
With this new order in place, Hoa Phat Group is poised to strengthen its maritime capabilities and bolster its position in the steel industry through efficient and reliable transportation of crucial resources.
