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

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

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

This is the first in a line of offshore energy service vessels that can operate to serve offshore wind power projects and subsea structures.

Song Cam Shipbuilding Joint Stock Company completes the ship's hull for delivery to the customer (Photo: Ta Hai).

The ship has a methanol-powered propulsion system combined with electric batteries, meeting net zero emission standards; built according to the trend of green energy development and sustainable development.

This product continues to mark Song Cam's success in constructing increasingly modern export products for Damen Group (Netherlands) and other foreign ship owners since the beginning of this year.

In the first 9 months of 2024, Song Cam has implemented the construction of 54 new products, including 27 products transferred from 2023 and 27 products implemented in 2024. Including 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 which, 35 products were delivered: 9 ASD 2312 ships, 10 ASD 2813 ships, 2 ASD 3212 ships, 11 RSD 2513 ships, 2 E-RSD 2513 ships and 1 DSCS buoy. In addition, a Tan Cang A8 ship was repaired...

With many construction, repair and mechanical processing products, the total production value of the company in 9 months reached more than 827.3 billion VND, reaching 110% of the yearly plan. Total revenue and other income reached more than 869 billion, reaching 136% of the yearly plan. Profit from production and business reached more than 45 billion VND, reaching 151% of the yearly plan.

For the whole year of 2024, it is expected to hand over 40 products/60 construction products to customers, bringing the total production value of the company to over 1,000 billion VND, reaching 137% of the annual plan. Total revenue and other income of the whole company reached over 969 billion VND, reaching 152% of the annual plan. Profit from production and business is nearly 54 billion VND, reaching 180% of the annual plan.

Song Cam workers construct new products (Photo: Ta Hai).

Assessing the situation in 2025, the leader of Song Cam Shipbuilding Joint Stock Company said that the new shipbuilding market is still thriving, the demand for new ships in the world is increasing, the number of new orders of Damen Group in 2023-2024 has increased significantly compared to the previous period, and it is forecasted that in 2025 it will continue to remain at a high level.

Seizing the opportunity, Song Cam is striving to implement solutions to ensure jobs and revenue in 2025. In addition to products with traditional partner Damen, the company still maintains promotion with domestic and foreign partners, new shipbuilding products, and processing for markets other than Damen to diversify products, maximize existing resources and improve competitiveness in the market.

"It is expected that in 2025, Song Cam will construct 37 ship hulls, deliver 25 products and carry out other products, ensuring enough jobs for workers, and targets on production value, revenue and profit will exceed 2024," informed the leader 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