Page 40: of Maritime Reporter Magazine (February 2025)

SHIPBUILDING

VIETNAMESE

SHIPBUILDING

IS DIVERSE & ROBUST hile many economic sectors were affected by Markets", the world's largest market research database platform, the COVID-19 pandemic, Vietnam's ship- Vietnam's shipbuilding industry is growing rapidly. building industry continued to grow, af? rming

Wits strong and growing position in the interna- The Shift to Asia Continues tional space. Vietnam's shipbuilding industry achieved many The shift of the shipbuilding market to Asia is an opportu- accomplishments in 2024 with the construction, launching nity for Vietnam to take advantage of its existing conditions and delivery of many specialized ships, contributing to the in terms of technology, resources, and labor to participate in world's ? eet, operating on global shipping routes. building ships to export, developing a diverse ? eet of ships to

By 2030, to develop the maritime economy, the Vietnam- serve the Strategy for sustainable development of Vietnam's ese ? eet is expected to be restructured and developed to about maritime economy to 2030, with a vision to 2045. Vietnam 1,600 to 1,750 vessels with a total tonnage of 17-18 mil- identi? es the maritime economy as the driving force to pro- lion DWT, of which the marine transport ? eet will be about mote the development of other economy sectors, thereby cre- 1,200 vessels with a total tonnage of about 13 million DWT ating a fundamental and comprehensive transformation of the to 14 million DWT. The aging of the ? eet and the increas- marine economic structure towards industrialization and mod- ing requirement to comply with environmental regulations, ernization. On the other hand, currently, due to the increasing especially the International Maritime Organization (IMO)'s demand for maritime transport, the shipbuilding industry is regulations on mandatory clean energy conversion under COP expected to have many market opportunities. According to the 26, will promote the growth of the shipbuilding industry in list of Top 15 global shipbuilding powers (data from the United the coming time when a new generation of modern ships is Nations Conference on Trade and Development) published by needed to replace the old, aging ? eet to meet the demand. Insider Monkey, Vietnam ranked 7th. Being included in the list

As of June 30, 2024, Vietnam has 88 shipbuilding enterpris- of Top 7 shipbuilding powers in the world is a clear demonstra- es and 411 inland waterway vehicle construction facilities (of tion of the capacity and development potential of the domestic which about 120 can build and repair ships with a tonnage of shipbuilding industry, thereby attracting many contracts.

over 1,000 tons). The total new building capacity of shipyards is The leader of the Shipbuilding Industry Corporation - SBIC up to 2.6 million DWT per year. According to the Vietnam Ship- shared: “The 21st century is the "Century of the Ocean", along building Industry Research Report 2023-2032 on "Research and with the advances in science and technology and the rapid de- 40 Maritime Reporter & Engineering News • February 2025

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