FDI bolsters local marine prospects

Hendrik Lacet, managing director of Maritime-Consult Lacet, is upbeat about the Vietnamese maritime industry. “Currently, Vietnam ranks eighth in the world regarding new shipbuilding, with 1.3 million compensated gross tonnage,” he said. “This means that the number of orders is growing again after a slow period.”

According to Lacet, Vietnam secured this position by restructuring its shipbuilding sector. Output for the Vietnamese shipping industry was, until recently, 70% bulk carriers. But it has now changed to other ship types, such as product tankers, crew boats, patrol crafts, car carriers, and fishing vessels.

The Vietnamese government has started a large programme to build 300,000 steel fishing vessels by 2020 to replace existing wooden vessels and extend the fishing fleets.

“Part of this restructuring is allowing foreign shipbuilders, like Damen Shipyards from Holland, Vard from Norway, Pilion from France, and Triyards from Singapore, to secure a firmer foothold in Vietnam,” he said.

Vietnam is ordering 61 new vessels in 2017, including one vessel from Saigon Marine with a capacity of 2,350 deadweight tonnes (DWT), two 2,000DWT vessels from Triyards, and eight 11,800DWT vessels from Vard.

In light of the potential growth trajectory for the industry, more than 300 local and foreign companies gathered at INMEX Vietnam 2017-Vietnam’s leading maritime expo-to source the best products and technology for their next projects in Vietnam and the region.

Tom Chant, director of the Society of Maritime Industries (SMI), said that it is important for UK companies to develop new relationships and hear about new opportunities in the wake of Brexit. The three well-known UK brands of B. Hepworth & Co, Chartco, and HAES Systems, as well as the National Oceanography Centre, attended the expo, on the hunt for potential partners.

The expo also drew Asian shipping powers. Winnie Low, executive director of the Association of Singapore Marine Industries, said, “A total of 22 companies with a wide array of marine and offshore technologies, products, services, and solutions will be represented in the Singapore Pavilion this year. INMEX Vietnam will be a great platform for Singapore companies to connect and network with local and international maritime industry professionals.”

According to the organizing committee, Vietnam is in a favourable geographical location, benefiting from more than 3,200 kilometres of coastline, 127 ports, and 1,900km of navigable inland waterways. In addition, it is well positioned to major international maritime routes.

The maritime industry in Vietnam has tremendous potential, as recognized by many experts in the field. With the government’s support and private businesses’ investments estimated to amount to US$1.5 billion by the year 2020, the maritime industry is set to develop and grow rapidly to cope with impending pressure from increasing trade.

According to Jack Wei, general manager of Informa and co-organiser of INMEX Vietnam 2017, the mega expo is an exceptional meeting point for the global maritime community in Vietnam, a region where the industry remains buoyant and strong growth is set to occur. This year, the number of international exhibitors made up 90% of the total.