Vietnam’s Hoa Phat buys two vessels for transporting coal and iron ore

Monday, 01 March 2021 17:21:14 (GMT+3)   |   Istanbul

Vietnam-based steelmaker Hoa Phat Group has announced that its subsidiary Hoa Phat Shipping Joint Stock Company has purchased two large vessels equipped with modern engine systems, with a tonnage of 90,000 mt each. The vessels which were built in Japan will serve for the company’s transport of coal and iron ore.

The vessels will help the company improve economic efficiency, ensure the quantity of ships in peak periods, and reduce the risk from freight charges when they are rising.

“The operation of the vessels will be flexible according to the market situation. In the near future, we have a plan to buy more ships to serve the Dung Quat 2 project as the demand for importing machinery, equipment and production materials of Hoa Phat will be increased two to three times compared to the present,” Doan Quang Thinh, director of Hoa Phat Shipping Joint Stock Company, said.

Hoa Phat Shipping Joint Stock Company is responsible for the chartering of all orders for the group’s FOB buying and CFR selling, and receiving commercial orders from the market.

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