Vietnam-based steelmaker Hoa Phat Group has announced that the Harmony vessel of the company’s subsidiary Hoa Phat Shipping Joint Stock Company has transported more than 80,000 mt of coal from Australia to Hoa Phat Dung Quat Steel Integrated Complex in the central Quang Ngai province, Vietnam. This is the first trip of the Harmony after being delivered to Hoa Phat.
The vessel was built in Japan with modern equipment, and fully meets strict standards of quality and technical safety. It had a safe shipment throughout the journey.
The freight market has been characterized by a shortage of vessels. The freight cost of Kamsarmax vessels has doubled after the Lunar New Year holiday. Its new vessel helps Hoa Phat be proactive in importing raw materials for production as well as for exports, and at the same time reduces the risk of shipping charges in case of a price hike.
Hoa Phat Shipping Joint Stock Company owns two large ships of 90,000 mt each, carrying bulk cargoes such as coal and iron ore.