Hoa Phat Group bought another 80,000 DW The Prosperity vessel

Hoa Phat Group has completed the purchase of another Kamsarmax vessel with a tonnage of more than 80,000 tons. Built in 2017, the vessel uses a Japanese engine system to transport bulk cargo, serving part of the coal and ore materials transportation for Hoa Phat Group.

The purchase of larger vessel is part of the group's development strategy to meet the internal transportation needs and the bulk shipping demand in the market. Especially, when second phase of Dung Quat project is completed, Hoa Phat Group's demand for importing production materials will increase.

The shipping market has many advantages with the good freight rates, stable and high profit margins for ship owners. Right at the time of receiving The Prosperity, many partners expressed their interest in chartering vessel as it is a quite new vessel with low consumption, and high economic efficiency. In fact, the ship is carrying out a cargo voyage for a partner.

The Prosperity is carrying out a cargo voyage for a partner

The purchase of The Prosperity helps Hoa Phat have a stable number of vessels during peak periods when the demand for vessels has been high, thereby reducing risks of increasing world charter fee and improving economic efficiency for Hoa Phat Group.

In the first half of 2021, Hoa Phat Shipping Joint Stock Company invested in buying two large bulk carriers - The Evolution and The Harmony, with a tonnage of 90,000 tons, built in Japan.

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