Hyundai-Vinashin launches second 56,600-DWT ship

Huyndai-Vinashin Shipyard Company launched a 56,000-DWT cargo vessel Friday, the second of ten the company plans to build for a US$500-million contract order by a German firm. The ship will be handed over to its owner, shipping company E.R.Shiffahrt, in October.
The 187.8-meter-long ship was built in seven months, one month quicker than the first vessel, Huyndai-Vinashin (HVS) said.
The company said it had invested over $100 million in upgrading technology and personnel training since 2008 to speed up construction.
HVS delivered its first 56,000-DWT vessel, the $48-million E.R.Bergamo, to E.R.Shiffahrt on July 7.
HVS said it was currently building three more ships. It is expected to complete one vessel by the end of 2009 and two others in the second half of 2010.
Vinashin said it plans to build and export ships worth $1 billion this year, up from about $700 million in 2008.