Hanoi (VNA) - Hoa Phat Group has received The Momentum, a bulk carrier with a deadweight tonnage of 110,000 DWT, marking the largest vessel in its fleet to date.

This acquisition is part of the leading Vietnamese industrial manufacturing group’s strategy to expand its maritime shipping capacity in preparation for a production ramp-up phase at the Hoa Phat Dung Quat Iron and Steel Complex in the south central province of Quang Ngai.

Upgrading its shipping fleet enables the group to achieve higher operational efficiency, particularly on long-haul international routes and in meeting the demand for large-scale imports of raw materials such as iron ore and coal from key markets like Australia, the Americas, and intra-Asia.

The Momentum is specifically designed for international maritime operations and is capable of docking at deep-water ports such as Dung Quat - one of Hoa Phat’s key transshipment hubs, which handles the majority of raw material imports for its steel plants.

This shift toward owning larger vessels is part of the group’s strategy to build a more autonomous and resilient supply chain, and reduce reliance on external shipping services. In a context of fluctuating global logistics costs, owning ships optimised for long-distance routes becomes crucial to ensuring production stability and cost control.

As part of its long-term strategy, Hoa Phat aims to expand its maritime fleet to around 15 to 20 vessels, with a primary focus on large-capacity ships capable of transporting substantial volumes. These vessels will not only serve the group’s internal logistics needs but also provide transpﷺort services for both domestic and international partners./.