Hoa Phat Deploys 110,000-DWT bulk carrier The Momentum, strengthening self-supply chain

On July 2, 2025, Hoa Phat officially put into operation The Momentum, a bulk carrier with a deadweight tonnage (DWT) of 110,000. This is the largest vessel ever operated by Hoa Phat Group and is part of the company’s strategy to expand its marine shipping fleet and prepare for an accelerated phase of production at the Hoa Phat Dung Quat Iron and Steel Integrated Complex.

Hoa Phat Deploys 110,000-DWT bulk carrier The Momentum, Strengthening Supply Chain Autonomy

The vessel is operated by Hoa Phat Shipping JSC, a subsidiary of the Group. Compared to the Kamsarmax vessels (approximately 80,000 DWT) currently in operation, The Momentum allows for nearly 40% more cargo per voyage. The upgraded fleet offers higher operational efficiency, particularly on long-haul international routes and for the import of large volumes of raw materials such as iron ore and coal from markets like Australia, the Americas, and intra-Asia.

The Momentum is designed to operate on international shipping routes and can dock at deep-water ports like Dung Quat, a major transshipment hub that handles the majority of raw materials such as ore and coal for Hoa Phat’s steel production plants.

The shift to larger vessels aligns with Hoa Phat’s strategy to build a more self-reliant raw material supply chain, reducing dependence on third-party shipping services. Given the ongoing volatility of global logistics costs, owning vessels suited for long-distance shipping has become a key factor in ensuring stable production operations.

Mr. Doan Quang Thinh, General Director of Hoa Phat Shipping JSC, stated that the investment in The Momentum was a calculated step based on the Group’s future logistical needs. He noted that beyond increasing transport capacity, owning its own fleet also improves port operation efficiency, especially as cargo volume at the Dung Quat complex continues to grow.

“We are developing a diversified fleet with vessels of different sizes. Large ships will handle imports of key raw materials from international markets, while smaller vessels will manage domestic transport of finished products. Our goal is to be self-sufficient in transportation for both inputs and outputs,” Mr. Thinh said.

According to its long-term plan, Hoa Phat aims to expand its fleet to approximately 15 to 20 vessels, primarily focusing on large-capacity ships capable of transporting high volumes. The fleet will serve not only the Group’s internal needs but also provide services to external partners both in Vietnam and abroad.

Hoa Phat has set a goal to become one of the top 30 steel producers globally. To achieve this, the Group is focusing on both production expansion and development of its maritime logistics capacity, ensuring supply chain security and optimized production cost control.

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