Vietnam Completes Construction of Its Largest Bulk Carrier

Vietnam has made a significant leap in its shipbuilding industry with the handover of the largest dry bulk carrier ever constructed in a domestic shipyard. The vessel, named Truong Minh Dream, boasts a deadweight tonnage of 65,000 and is seen as a crucial step in the government’s strategy to enhance the country’s maritime capabilities. This development aligns with Vietnam’s broader goals of expanding its shipping and shipbuilding sectors, which are vital for economic growth. The handover ceremony took place on December 26, marking a milestone for the nation’s maritime ambitions.

Significance of the Truong Minh Dream

The Truong Minh Dream measures an impressive 656 feet, or approximately 200 meters, and is classified by Japan’s ClassNK. This classification indicates that the vessel meets international standards, allowing it to operate globally. Designed through a collaboration between Vietnam Shipbuilding Engineering JSC (VISEC) and Bluetech Finland, the ship features a double-bottom, single-propeller design with five cargo holds. It is equipped with hydraulically operated double-sided hatch covers and four cranes, each with a lifting capacity of 30 tons. While it is a standard bulk carrier, its size sets it apart from previous vessels built in Vietnam.

Project on expansion, establishment of marine protected areas approved

The construction of the Truong Minh Dream was carried out by the Nam Trieu Shipbuilding Company, a subsidiary of the Shipbuilding Industry Corporation (SBIC). Despite the ongoing reorganization of SBIC under state-run bankruptcy proceedings, the project progressed smoothly. The vessel was launched on May 11 and completed its sea trials by December 4. The Ministry of Transport is overseeing the restructuring process, working in conjunction with the Ministry of National Defense. Plans are in place for SBIC to submit a proposal to the Prime Minister in the first quarter of 2025, aimed at enhancing the domestic shipbuilding industry’s capacity.

Future Prospects for Vietnam’s Maritime Industry

The handover of the Truong Minh Dream to Dong Bac Shipbuilding Industry JSC marks the beginning of a new chapter for Vietnam’s maritime sector. This company will be responsible for the vessel’s operations, having initially ordered two 65,000 dwt bulk carriers. Construction on the second vessel will commence following the successful launch of the first. The Truong Minh Dream will operate from the northern port city of Hai Phong, a strategic location for maritime activities.

During the handover ceremony, government officials announced that Dong Bac Shipbuilding Industry JSC has placed orders for two additional vessels of the same class. This move is part of a broader strategy to bolster Vietnam’s maritime economy. As traditional shipbuilding powerhouses like China, Japan, and South Korea continue to dominate the market, Vietnam aims to position itself as a cost-effective alternative. The government’s commitment to developing the maritime sector is evident in these recent developments, which promise to enhance the country’s competitiveness in the global shipping industry.