The Vietnam Shipbuilding Industry Corporation (Vinashin) has signed a contract to build 64 ships for the Vietnam National Shipping Lines (Vinalines). The US$2.3-billion contract will be valid till 2015.

According to plan, Vinashin will build 19 ships by 2010, helping Vinalines raise its fleet's capacity to 2.6 million tonnes. The remainders - mainly cargo ships, container ships and oil tankers - will be built from 2011-2015.