Hyundai – Vinashin hand over first newly built vessel

The US$48 million vessel is the first vessel of its kind built by Hyundai- Vinashin. E.R.Bergamo is among a series of ten vessels worth nearly US$500 million contracted to build for Germany’s E.R.Shiffahrt company. Three other vessels of its kind are also being built. It is expected to complete one vessel by the end of this year and two others in the first six months of 2010.

The Hyundai – Vinashin Shipyard has invested more than US$100 million in upgrading infrastructure facilities and buying new equipment in order to move from ship repairing to shipbuilding, said Vu Minh Phu, the Deputy General Director of the Hyundai – Vinashin Shipyard Co.