Vietnamese steel producer Hoa Phat Group has announced that it has commissioned a new 110,000 dwt bulk carrier, aiming to enhance its logistics capacity and support the anticipated production increase at its Dung Quat Iron and Steel Complex.
The new vessel is a strategic addition to the group’s logistics infrastructure, meeting its rising demand for raw material imports such as iron ore and coal from key suppliers in Australia, the US, and Inner Asia.
Operational efficiency and cargo gains
Operated by Hoa Phat Shipping, a subsidiary of Hoa Phat Group, the new vessel enables a 40 percent increase in cargo capacity per voyage when compared to the company’s existing Kamsarmax-class vessels, which typically have a capacity of around 80,000 dwt.
This upgrade is particularly valuable for long-distance shipping routes, when transporting raw materials.
Fleet expansion strategy to meet long-term demand
Looking ahead, Hoa Phat plans to expand its shipping fleet to 15-20 vessels, focusing primarily on large-capacity ships. The expansion strategy aims to serve the company’s internal raw material needs efficiently and provide logistics services to both domestic and international partners.
