Vietnamese steelmaker Hoa Phat Group has announced that its subsidiary Hoa Phat Shipping Joint Stock Company has ordered two bulk carriers from Vietnam-based Ha Long Shipyard.
The bulk carriers, with tonnages of 24,500 tons, are designed to meet the company’s transportation needs for raw materials and finished products.
These two bulk carriers are expected to enter into service in the fourth quarter of 2023 and help optimize the steel product production and supply chain.
Meanwhile, Hoa Phat Shipping Company owns three large Kamsarmax vessels ranging in tonnage from 80,000 to 90,000 tons, as SteelOrbis previously reported.
In its long-term strategy, Hoa Phat plans to have 15-20 vessels of all types to meet the growing demand for transportation of raw materials and finished products, especially after the completion of the Dung Quat 2 Integrated Steel Complex project.