Song Cam Shipbuilding's profits surged thanks to a series of new projects

Song Cam Shipbuilding Company expects its revenue and profit in 2024 to exceed the plan by more than 50%.

At the end of October, Song Cam Shipbuilding Joint Stock Company (Vietnam Shipbuilding Industry Corporation - SBIC) held a keel-laying ceremony for the new offshore energy service vessel ST245 ESCV HULL No. 82 for a Norwegian shipowner.

This is the first vessel in a class of offshore energy service ships capable of operating to support offshore wind farms and seabed projects.

Song Cam Shipbuilding Joint Stock Company is completing the construction of the ship's hull for handover to the customer (Photo: Ta Hai).

The vessel has a methanol-powered propulsion system combined with electric batteries, achieving net-zero emissions; it was built in line with the trend of green energy development and sustainability.

This product further marks Song Cam's success in constructing increasingly modern export vessels for Damen Group (Netherlands) and other foreign shipowners since the beginning of this year.

In the first nine months of 2024, Song Cam implemented the construction of 54 new shipbuilding projects, including 27 projects carried over from 2023 and 27 projects started in 2024. These include the construction of 13 ASD 2312 hulls; 16 ASD 2813 hulls; 4 3212 hulls; 17 RSD 2513 hulls; 2 E-RSD 2513 hulls; 1 ST245 hull; and 1 DSCS hull.

Of these, 35 products were delivered: 9 ASD 2312 vessels, 10 ASD 2813 vessels, 2 ASD 3212 vessels, 11 RSD 2513 vessels, 2 E-RSD 2513 vessels, and 1 DSCS floating buoy. In addition, repairs were carried out on one Tan Cang A8 vessel…

With numerous construction, repair, and mechanical processing projects, the company's total production value for the first nine months reached over 827.3 billion VND, achieving 110% of the annual plan. Total revenue and other income reached over 869 billion VND, achieving 136% of the annual plan. Profit from production and business reached over 45 billion VND, achieving 151% of the annual plan.

For the whole year of 2024, it is expected that 40 out of 60 completed projects will be delivered to customers, bringing the total production value of the company to over 1,000 billion VND, achieving 137% of the annual plan. Total revenue and other income for the entire company reached over 969 billion VND, achieving 152% of the annual plan. Profit from production and business activities was nearly 54 billion VND, achieving 180% of the annual plan.

Workers at Song Cam are constructing a new product (Photo: Ta Hai).

Assessing the situation in 2025, the leaders of Song Cam Shipbuilding Joint Stock Company stated that the shipbuilding market remains vibrant, with high demand for new ships worldwide . The number of new shipbuilding orders from Damen Group in 2023-2024 has increased significantly compared to the previous period, and it is projected that this will continue to remain at a high level in 2025.

Seizing the opportunity, Song Cam is striving to implement solutions to ensure employment and revenue in 2025. In addition to products with its traditional partner Damen, the company continues to promote partnerships with domestic and international partners, and engages in shipbuilding and processing for markets other than Damen to diversify its product range, maximize existing resources, and enhance its competitiveness in the market.

"In 2025, Song Cam Shipbuilding Joint Stock Company is expected to construct 37 ship hulls, deliver 25 products, and undertake other projects, ensuring sufficient employment for workers, and achieving targets for production value, revenue, and profit exceeding those of 2024," informed the leaders of Song Cam Shipbuilding Joint Stock Company.

Source: https://www.baogiaothong.vn/loi-nhuan-dong-tau-song-cam-bat-tang-manh-me-nho-loat-du-an-moi-192241108174932854.htm