Vietnam okays another entrant to its shipbreaking sector

Vietnam's Ministry of Transport (MoT) has given approval for another shipbuilder to enter the country's tightly restricted ship-demolition sector, Mysteel Global has learned, but the extent to which the move might give a boost to domestic supplies of ferrous scrap remains unclear.

The company granted MoT permission is Nosco Shipyard Joint Stock Company, a shipbuilder located in Quang Yen in north-east Vietnam's Quang Ninh Province, about 35 kms from the country's maritime hub of Haiphong. Established in 2009, Nosco Shipyard hosts several drydocks and can build vessels to 75,000 deadweight tons. Local