Vietnam shipyard to build vessel for Britain’s North Star
The Vard Vung Tau shipyard in southern Vietnam has held a steel cutting ceremony to start work on a service operation vessel (SOV) - a means of transport that can serve as a hotel, warehouse, workshop, or temporary home.
This will be the fourth SOV to be delivered by Norwegian shipbuilder Vard to North Star for operation on the Dogger Bank offshore wind farm in the UK's North Sea.

Vard Vung Tau shipyard in Vung Tau town, southern Vietnam. Photo courtesy of the shipyard.
The leading British infrastructure support company placed an order for four SOVs with Vard in 2021, all of which will support the world’s largest offshore wind farm, Dogger Bank, on long-term charters, according to a May 18 report by SWZ Maritime, a maritime industry magazine headquartered in the Netherlands.
The first three SOVs will commence operations this year, ahead of schedule, with the final one to be delivered in 2024, the publication said, without giving a specific date for the launch of the first three.
The total price for the orders is not known. Vard Vung Tau shipyard, located in Vung Tau town of Ba Ria-Vung Tau province, first cut steel for the fourth SOV on Monday.
SWZ Maritime said Vard designed its VARD 4 22 design, in close collaboration with Vard Design in Alesund, Norway, especially for North Star. They feature the latest hull design optimized for low fuel consumption and resistance, as well as high operability and comfort. In addition, the ships will be equipped with new methanol-ready hybrid-propulsion solutions and an increased number of single cabins, providing hotel-quality accommodation for technicians working in the field.
The fourth SOV will be 78 meters long with a beam of 19 meters and be able to accommodate 60 persons in single cabins, Offshore Engineer, a global magazine on offshore energy and technology, said on Tuesday.
The hybrid vessel will be equipped with a diesel-electric propulsion system, highly efficient main propellers, and tunnel thrusters with permanent magnetic electric motors in combination with SeaQ solutions supplied by Vard Electro in Norway. SeaQ is a modern maritime automation system.
According to the Vard Vung Tau shipyard’s website, it is a fully integrated facility capable of undertaking the entire process of shipbuilding from hull construction to final outfitting works. The shipyard is well-equipped to handle complex project management that measures up to the same international standards as more established yards in Europe.
It was established as a green-field yard in 2006, started manufacturing operations in 2008, and was officially launched in 2010.
The beach town of Vung Tau is about two hours’ drive southeast of Ho Chi Minh City, Vietnam’s economic powerhouse. It is part of Ba Ria-Vung Tau province, dubbed the country’s oil and gas hub.
Not far from Vung Tau is HCMC’s Nha Be District, home to the Piriou Vietnam shipyard, owned and operated by Piriou, a French leader in shipbuilding and ship repairs for medium-size vessels. Piriou Vietnam is finishing the cargo sailing ship Grain de Sail II for French cargo company Grain de Sail. It will be the company’s second carbon-free cargo sailing vessel.
- Read More
Vietnam’s army-backed construction firm proposes 14 offshore wind power projects
Lung Lo Construction Corporation (LLC), under the Ministry of National Defense, has submitted investment proposals for 14 offshore wind power projects with a combined capacity of 9,000 MW.
Energy - Thu, August 7, 2025 | 5:07 pm GMT+7
Vietnam's agri major Hoang Anh Gia Lai fined for bond information disclosure failure
Vietnam's agri major Hoang Anh Gia Lai JSC has been fined VND92.5 million ($3,528) for failing to disclose bond-related information as required by law.
Companies - Thu, August 7, 2025 | 4:31 pm GMT+7
Northern Vietnam province accelerates $2.2 bln LNG-to-power project
Quang Ninh province will hand over 4.9 hectares of reclaimed land to the Quang Ninh LNG-fuelled power plant project before August 11, local authorities stated at a meeting on Wednesday.
Energy - Thu, August 7, 2025 | 4:17 pm GMT+7
Vietnam's seafood firms ride profit wave ahead of US tariff hike
Vietnam’s seafood companies reported surging profits in Q2/2025, driven by importers ramping up purchases ahead of new U.S. reciprocal tariffs.
Economy - Thu, August 7, 2025 | 2:21 pm GMT+7
Le Anh Tuan appointed new CEO of Dragon Capital Vietfund Management JSC
Dragon Capital Group, Vietnam's largest asset manager, has appointed Le Anh Tuan as CEO of its arm Dragon Capital Vietfund Management Joint Stock Company (DCVFM), starting from October 1, 2025.
Companies - Thu, August 7, 2025 | 2:01 pm GMT+7
Indonesia, Malaysia, Thailand expand local currency transaction network
Bank Indonesia, Bank Negara Malaysia, and Bank of Thailand have added new Appointed Cross Currency Dealer (ACCD) participating banks to broaden services for bilateral transactions in local currencies across the three nations, Bank Indonesia said in a statement on Tuesday.
Southeast Asia - Thu, August 7, 2025 | 12:48 pm GMT+7
ASEAN to sign MoU on regional power grid implementation
ASEAN member states are set to sign an MoU on the implementation of the ASEAN Power Grid during the bloc’s Energy Ministers’ Meeting this October.
Southeast Asia - Thu, August 7, 2025 | 12:43 pm GMT+7
Vietnam overtakes Thailand to become world's second-largest rice exporter
Vietnam has outranked Thailand as the world’s second-largest rice exporter in the first half of 2025, Thai PBS reported on August 3, citing the Thai Rice Exporters Association.
Companies - Thu, August 7, 2025 | 12:41 pm GMT+7
Vietnam posts trade surplus of $10.18 bln in 7 months
Vietnam’s export earnings grew by 14.8% to $262.44 billion in the first seven months of this year, while its import turnover rose by 17.9% to $252.26 billion, resulting in a trade surplus of $10.18 billion.
Economy - Thu, August 7, 2025 | 12:19 pm GMT+7
Malaysia pledges big purchases, investments with US
Malaysia has agreed to buy and invest over $240 billion (MYR1.02 trillion) in the U.S. to help reduce the trade gap between the two countries.
Southeast Asia - Thu, August 7, 2025 | 12:08 pm GMT+7
Vietnam's leading property developer Novaland to issue 152 mln shares to settle $229 mln debt
Novaland, a major real estate developer in Vietnam, plans to issue nearly 152 million new shares to swap more than VND6 trillion ($228.8 million) worth of bond principal.
Companies - Thu, August 7, 2025 | 10:11 am GMT+7
Vietnam's FDI capital disbursement hits five-year record high despite US tariff turmoil
Disbursed foreign direct investment (FDI) capital in Vietnam reached $13.6 billion in Jan-July, up 8.4% year-on-year, despite U.S. tariff concerns.
Economy - Thu, August 7, 2025 | 9:57 am GMT+7
Malaysia steps up efforts to explore nuclear energy potential
Malaysia’s Minister of Science, Technology and Innovation Chang Lih Kang on Wednesday reaffirmed his ministry’s commitment to enhancing cooperation with the Ministry of Energy Transition and Water Transformation (PETRA) in exploring the potential of nuclear energy.
Southeast Asia - Thu, August 7, 2025 | 8:10 am GMT+7
Indonesia's economy grows faster than expected
Indonesia's economy expanded by 5.12% year-on-year in Q2/2025, up from 4.87% in the previous quarter, exceeding the forecasts of many economic organizations, which had previously projected a rate of less than 5%, according to Statistics Indonesia (BPS).
Southeast Asia - Thu, August 7, 2025 | 8:07 am GMT+7
Philippine energy group eyes investment in Vietnam’s power sector
AboitizPower wants to invest in Vietnam’s electricity industry, especially in transmission infrastructure, said Danel Aboitiz, executive director of the corporation.
Energy - Wed, August 6, 2025 | 11:11 pm GMT+7
Vietnam seeks 8.3-8.5% economic expansion for 2025
The Government has requested the State Bank of Vietnam to proactively adjust the credit growth aim for this year in line with a GDP expansion target of 8.3-8.5%.
Economy - Wed, August 6, 2025 | 10:41 pm GMT+7