Hoang Long Shipbuilding Industry Joint Stock Company is building ten cargo vessels of 2,500 to 4,500 tons for delivery by October 2026, with a combined contract value of approximately 350 billion VND.

The Ham Rong ward yard, one of the first in Thanh Hoa province to construct hulls in the 4,500-ton segment, frames the orderbook as evidence of a domestic inland waterway and short-sea fleet renewal cycle. Revenue has more than doubled in two years — from VND 62 billion in 2023 to VND 138 billion in 2025 — and management forecasts VND 250 billion for 2026 on a workforce of nearly 200.

What's driving the orderbook?

Mr. Ngo Huu Tien, chairman of Hoang Long, attributes the pipeline to rising demand from operators in Hai Phong, Nam Dinh and Thanh Hoa. The yard has signed 14 newbuild contracts for tonnage between 2,200 and 3,500 tons over the past period.

Demand has shifted upmarket from sub-2,000-ton hulls to multi-thousand-ton coastal and river-sea tonnage, Tien said, citing the firm's move into the 4,500-ton bracket as proof of that transition.

What does the 250B VND project add?

The Provincial People's Committee has approved Hoang Long's Quang Phu Ward facility under a "24-hour green lane" process, clearing administrative hurdles for a 250 billion VND investment that adds a dedicated repair line alongside newbuild capacity.

"To expand production and meet the demand for large-tonnage shipbuilding, the company has received approval from the Provincial People's Committee for the investment in the Hoang Long Shipbuilding and Repair Facility Project in Quang Phu Ward, with a total investment of 250 billion VND," Tien said. He added that the company aims to commence construction in December 2026.

How does this fit Thanh Hoa's maritime plan?

The revised Thanh Hoa Provincial Planning for 2021-2030, with a vision to 2050, designates the Nghi Son–Le Mon area as a zone for industrial-scale shipbuilding and repair. The province's port development plan targets cargo throughput of 71.65 to 86.15 million tons at Thanh Hoa seaports by 2030.

That ceiling translates into fleet expansion, dry-docking cycles and parts demand for vessels calling Nghi Son deep-water port — work currently routed to yards in Hai Phong or further afield. Local capacity absorbs a slice of that maintenance spend and shortens dry-dock transit distances for operators on the North-Central coast.

What are the commercial consequences?

For shippers and forwarders, a domestic yard network cuts newbuild lead times and conversion costs for river-sea and short-sea tonnage serving the Nghi Son industrial zone. For carriers, proximity to Nghi Son reduces off-hire days during scheduled repairs. For Hoang Long and rivals, the planning reclassification opens access to provincial land, dock infrastructure and skilled-labor pipelines.

Tien positioned the repair line as a way to capture recurring work tied to inland waterway transport and regional maritime activity, smoothing revenue between newbuild deliveries.

Thanh Hoa counts 120 kilometers of coastline and a river network linking inland industrial clusters to the sea, advantages provincial planners are converting into a marine industrial cluster rather than a stand-alone port-and-loader model.

What to watch next

Hoang Long's December 2026 groundbreaking will test whether the green-lane approval converts into delivered tonnage on the projected schedule. Provincial planners will track whether the 71.65 to 86.15 million-ton throughput ceiling pulls additional yards into the Nghi Son–Le Mon corridor by 2030.