The High-level People’s Court in Hanoi on October 10 started hearing appeals of defendants in the case related to “abusing position and power to appropriate assets” at the State-run Vietnam Shipbuilding Industry Group (Vinashin).

The Vietnamese fleet continues to decline in quantity, raising concerns that the domestic cargo transportation strategy may not be completed.

OCD An Thuan Phat Auctioning has announced the auction of Vinalines’ ships on August 9 as authorized by the national shipping line firm.

Former Chairman of the State-run Vietnam Shipbuilding Industry Group (Vinashin) Nguyen Ngoc Su was sentenced to 13 years in prison for the charge of “abusing position and power to appropriate assets” at a first-instance trial yesterday.

“Vietnam is quite capable of building large modern battleships. What we need is good design,” Do Thai Binh, Vice President of the Society for Science and Technology of Vietnam Shipbuilding Industry, said recently.

VietNamNet Bridge - Building submarines is beyond Vietnam’s capacity as Vietnamese engineers now can only build midrange ships, torpedo boats and some other models, experts say.

VietNamNet Bridge - The National Assembly (NA) deputies’ rejection of the proposal on allowing businesses to import old ships for demolishment in Vietnam indicates they see bad intentions behind the proposal.

VietNamNet Bridge - Upgrading ships and turning them into mobile military bases, which Malaysia is doing, is within Vietnamese reach, scientists say.

When Dongbacshin fulfills the contract on building a 56,200-ton ship, Vietnam will be able to prove it can build big-tonnage vessels and list itself among the largest shipbuilders in the world.

VietNamNet Bridge - Many banks cannot collect debts from shipping firms, which have been taking losses for several years.

VietNamNet Bridge – The Maritime University has landed itself in an embarrassing situation as it has to receive a ship model test basin from the Ministry of Transport.

 VietNamNet Bridge – Vietnam has mastered the process of designing, manufacturing, assembling, operating and testing small-size submarines in accordance with international standards recognized by Germanischer Lloyd.

VietNamNet Bridge – Maritime experts believe that sinking unused vessels instead of selling them as scrap iron will be the best solution for old, unused ships of Vinashin and Vinalines.

 VietNamNet Bridge – The Prime Minister on Wednesday approved an action plan to develop the shipbuilding industry into a key industry under the implementation of Viet Nam's Sea Strategy by 2020.

VietNamNet Bridge – While Shipbuilding Industry Corporation, the successor of the debt-laden Vinashin, is about to undergo the second debt restructuring phase, Vietnam National Shipping Lines is struggling to settle debts

 VietNamNet Bridge - Commercial banks have been allowed to keep Vinashin’s bad debts in “pending” status and do not have to declare the debt as bad debt on their financial reports.

 VietNamNet Bridge – The Vietnam National Shipping Lines (Vinalines) has asked for a lot of favors to settle debts before it goes equitized.

 VietNamNet Bridge – The Ministry of Transport is determined to equitise SOEs under its control to improve production and business activities, Minister Dinh La Thang spoke to the Tin Tuc (News) Newspaper.

 VietNamNet Bridge – The Government has called on relevant bodies to accelerate co-ordination efforts with the Samsung group to restructure domestic shipbuilding activities.