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    Strategic Marine "to ride out global financial storm"

    News // February 25, 2009

    Western Australian shipbuilder Strategic Marine officially opened its A$25 million shipyard in Vietnam on February 24th, and said it was sending a message to world shipping markets that the company is confident it can ride out the current global economic turmoil.

    Strategic Marine Chairman Mark Newbold told several hundred dignitaries and guests attending the grand opening that the Vietnamese yard had already won more than A$95 million in orders.

    Mr Newbold said with three other yards in Australia, Singapore and Mexico, the company was currently constructing 63 fully-financed vessels with an order book value of A$252.3 million, with an additional 77 vessels already contracted by international clients valued at A$123 million.

    He also announced the company had pioneered and funded an apprenticeship scheme – a first by any company in Vietnam – which would see 55 Vietnamese undertake a two-year course in a range of specialised shipbuilding skills.

    With its newest facility, Strategic Marine has transformed 136,000sqm of vacant land at Dong Xuyen Industrial Zone in Ba Ria Vung Tau province into a fully functioning shipyard with the capability to construct large steel and aluminium vessels.

    Strategic Marine’s Vietnam Managing Director Mark Schiller said this feat could not have been achieved without the whole-hearted support of the Vietnamese authorities and local businesses, and the sheer hard work of the yard’s 1,100 employees.

    To date, the facility has completed construction of the 103m x 50m steel pontoon base for the Australian Marine Complex’s A$62 million Floating Dry Dock, which was shipped to Western Australia late last year.

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