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  • Vietnam - A potential market for Norwegian maritime companies

    Vietnam maritime sector has been catalyzed by strong government support, fast growing oil and gas sector and presence of international players. However, after Vinashin went into receivership and the oil and gas sector is over its peak, it has seen more challenging times.

    Shipbuilding
    The Shipbuilding Industry Corporation (SBIC) has been established after Vinashin was terminated, and consists of eight shipyards, including Bach Dang, Pha Rung, Ha Long, Song Cam and Thinh Long in the north, Cam Rang in the central part, and Saigon and Saigon Shipmarine in the south.

    The SBIC shipyards have the capability to build smaller and simpler vessels to an acceptable quality, also for international shipowners. Some of them have also achieved and delivered international contracts to build smaller fishing vessels, for instance for Canadian shipowners. However, they are still struggling to be considered as a competitive and qualified shipbuilder from many international shipowners’ perspective. Still we believe the Vietnamese shipbuilding industry will grow during the years to come, both due to its attractive location and due to very competitive labor cost. The Vietnamese government is now developing a strategy with the purpose of boosting its shipbuilding industry from now until 2030.

    In addition, there is a large number of smaller yards that produce simple fishing vessels, mainly in wood.

    During the years to come we foresee that Vietnam will modernize its fishing fleet by building steel and composite vessels with more modern fishing gear, fish finding equipment and storage facilities like RSW systems. This will provide opportunities for Norwegian designers, yards and equipment producers. 

    Domestic ship-owners:

    Foreign ship-owners:

    PTSC

    Wilmar International of Singapore

    Vietsovpetro

    Densa

    Petrolimex

    HMM

    Vinalines

    DSL Kumpula

    Au Lac

    Ezra Holding

    Vietnam Ministry of National Defense

    German Briese

     

    Hyundai Mipo Dockyard Co

     

    Central Mare of Greece

    Other important shipyards:

     - Huyndai Vinashin Shipyard owned by Huyndai group, locates in Nha Trang province, which is the busiest shipyard in Vietnam. The shipyard builds tankers, bulkers and tug boats.

     - Dung Quat shipyard: located in the central part of Vietnam, under PetroVietnam. The shipyard does ship-repairing, ship-conversion and builds tankers, and accommodation barge. The shipyard has ambition of building AHTS in the near future.

     - PV shipyard is the Petrovietnam's rig builder, located in the Vietnam oil and gas hub - Vung Tau. They also build feed barges for Steinsvik.

     - Triyard has two shipyards in Vietnam: Saigon shipyard in Hochiminh city and Sofel shipyard in Vung Tau. Triyard is owned by Ezra Holding.

     - Song Thu shipyard is under the Ministry of National Defence of Vietnam, located in Da Nang and builds specialized vessels. The shipyard is going to build AHTS in the time to come.

     - Damen-Song Cam shipyard, located in Hai Phong, builds tug-boats for Damen mainly.

     - South East Asia Shipyard is under Piriou group (French). The shipyard builds steel/aluminum vessels up to 100 m in length including artisanal or industrial fishing - Tugs - Offshore oil service ships - Public service ships - Other service ships. Their vessels are mainly delivered to shipowners in former French colonies.

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    Maritime supporting industries
    Thanks to a number of favorable conditions such as competitive labor cost, strong development of oil and gas activities, skillful labor force, and favorable geographical conditions, Vietnam maritime supporting industry has developed at a certain level. A number of Norwegian manufacturers have set up their production facilities in Vietnam such as Rolls-Royce Vietnam (formerly Odim), Vinomarine, Steinsvik Vietnam, Karmsund Maritime Vietnam, Slåttland Vietnam, Golten Vietnam, etc.

    Thoresen – Vinama is a shipping-trading joint venture company that has been working in Vietnam since 1993. Their head office is in HCMC with branch offices in Vung Tau, Hai Phong and Phu My. The company has around 600 vessel calls annually in Vietnam. Through Thoresen Vinama Logistics they have also focused on warehouse management and logistics since 2009.

    Fleet and seaport system
    The Vietnamese total fleet currently consists of 1818 vessels (2017) and includes 71 bulk carriers, 34 container ships, 1259 general cargo ships, 109 oil tankers and 335 other vessels.

    As of June 2016, the total deadweight was 7.3 million DWT with total capacity of 7.1 million DWT, ranked 4th in the region.

    Vietnam targets to have a fleet with total capacity of 12 million DWT by 2020.

    According to Index Mundi (2018) the official Vietnamese ocean-going fleet is the 28th largest in the world, consisting of 314 vessels.

    Vietnam seaport system needs huge investments in the time to come. Vietnam's port system will be developed intensively in order to facilitate 1000 million tons and 2600 million tons of cargo by 2020 and 2030 respectively.

    Maritime opportunities in Vietnam
    Investment in shipbuilding facilities
     - Shipbuilding (marine, offshore and fishing vessels)
     - Maritime equipment (marine, offshore, fishing vessels)
     - Local production of maritime equipment
     - Technical design for vessels
     - Maritime training.

    With our expertise and understanding of the market, we can assist Norwegian companies in entering the maritime sector in Vietnam.

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    INNOVASJON NORGE

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    Den Norske ambassaden i Hanoi

    Vietnam er et attraktivt marked i Øst-Asia grunnet politisk stabilitet, geografisk plassering og demografi. Markedsmulighetene i dag er primært innen akvakultur, sjømatprosessering, ingrediensindustri, «functional food», fiskeri og ny & fornybar energi; det er også muligheter innen olje og gass, maritim og IKT. Utviklingen innen «smarte byer» og helsesektoren vil i løpet av få år også gi store markedsmuligheter.

    Landet har hatt en sterk økonomisk vekst grunnet økonomisk reform og en voksende populasjon på 96 millioner. Middelklassen har vokst sterkest i sentrale områder rundt de store byene og gir gode framtidsutsikter for konsumentmarkedet i landet. BNP økningen har vært gjennomsnittlig 6,5 % de siste 20 årene, og er nå 6,9 %. De siste årene har Vietnam utviklet seg til å bli en viktig produksjonsnasjon relatert til elektronikk, tekstiler og sko og mekanisk produksjon. Grunnet ca. 40 % lavere lønnsnivå enn Kina, er landet stadig mer interessant for utenlandske investeringer og har i 2018 registrert mer enn 30 milliarder USD i FDI.

    Vietnam har hatt en svak bedring i landets korrupsjonsnivå på Transparency Internationals korrupsjonsindeks. Det er fortsatt sikrere og enklere å inngå kontrakter med private selskaper enn statseide selskaper og myndigheter, ikke minst for å redusere mulighetene for korrupsjon.

    Innovasjon Norge anbefaler bedrifter å sette seg inn i håndboken i antikorrupsjon "Beskytt din virksomhet" og utvikle egnede interne etiske retningslinjer og antikorrupsjonsprogram.