VARD VUNG TAU LTD

VARD VUNG TAU LTD (CÔNG TY TNHH VARD VŨNG TÀU) is one of Vietnam’s leading shipbuilding companies and a strategic subsidiary of VARD Group, a global leader in the design and construction of specialized vessels headquartered in Norway. The company’s shipyard is located at Road No. 6, Dong Xuyen Industrial Park, Rach Dua Ward, Vung Tau City, Ba Ria – Vung Tau Province, and it operates under Business ID: 3500781205, issued by the Ba Ria – Vung Tau Department of Planning and Investment on June 30, 2006

As part of the Fincantieri Group, one of the world’s largest shipbuilding conglomerates, VARD Vung Tau plays a vital role in producing advanced offshore and specialized vessels, including fishing, expedition, and service ships, that meet the rigorous standards of international clients. The company is managed by Mr. Sivert Ronning Skarn (General Director, Norwegian), supported by Mr. Tran T. B. (Deputy General Director) and Ms. Nguyen T. D. H. (Chief Accountant), reflecting a balanced integration of foreign expertise and local talent.

The shipyard employs approximately 1,500 workers, equipped with modern dry docks, assembly halls, and outfitting facilities capable of handling large-scale projects. Besides shipbuilding, VARD Vung Tau engages in metal fabrication, ship repair, and machinery installation, strengthening its position as a full-service marine engineering hub in Southeast Asia.

Financially, VARD VUNG TAU LTD demonstrated outstanding growth in 2023, with total assets rising to USD 163.45 million, up 11.96% year-on-year, and equity reaching USD 81.12 million, an increase of 29.77%. Revenue climbed to USD 101.69 million, reflecting a 17.76% growth, while net profit more than doubled (▲105.56%) to USD 16.53 million. The company’s working capital of USD 31.37 million underscores strong liquidity and effective project cash-flow management

This impressive performance marks the company’s best year to date, fueled by rising global demand for offshore support vessels and renewable energy infrastructure. As the global maritime sector pivots toward cleaner and more efficient ship designs, VARD VUNG TAU LTD is strategically positioned to capitalize on this trend with its high-value engineering capacity and strong corporate backing from VARD Singapore Pte. Ltd. (100% ownership).

With nearly two decades of operation in Vietnam, VARD Vung Tau has solidified its reputation as a reliable and technologically advanced shipbuilder serving international clients. Its financial resilience and continuous innovation highlight its contribution not only to Vietnam’s industrial development but also to the regional maritime economy.

For companies or investors seeking deeper insight into VARD VUNG TAU LTD’s 2024 performance, risk rating, and credit outlook, an updated report is available through VNBIS (Vanguard Business Information LLC). The report provides detailed analysis for strategic partnerships, trade credit evaluation, and risk management in Vietnam’s shipbuilding and engineering industries.

Information verified and summarized by VANGUARD BUSINESS INFORMATION LLC (VNBIS), Vietnam’s trusted provider of company intelligence, financial analysis, and credit risk assessment.