| Fate | Bankrupt |
|---|---|
| Headquarters | , Vietnam |
| Website | www.vinashin.com.vn |
Vinashin is a state-owned shipbuilding firm in Vietnam. Vinashin was one of Vietnam's leading industrial concerns, and entered into a partnership with Damen,[1] Kongsberg, and Hyundai.[2] Vinashin was heavily indebted,[3] and executives have been arrested for mismanagement.[4] but it has been claimed that further restructuring would allow debts to be repaid within a year.[5] Vinashin folded under a debt burden of $4.5 billion in 2010;[6] as of March 2011, it was being restructured.[7]
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Vinashin operated several ports and shipyards around Vietnam.
In August 2010, Damen Vinashin began construction on a new shipyard on a 42 hectare site in Haiphong[8]
Vinashin constructed both merchant ships and military ships. A number of ships in the Vietnam People's Navy were built by Vinashin. [9]
Merchant ship construction included dry cargo, tankers, lash carriers, and passenger vessels.[10]
Vinashin was the largest shipbuilder in Vietnam, accounting for approximately 80% of shipbuilding capacity.[9]