Major investment to modernize Vietnam’s aging ship fleet
WHAT
Vietnam’s maritime fleet average 17.4 years, with the great urgency of fleet renewal and modernization to comply with environmental standards and green ambition roadmap.
HOW
Fleet renewal in Vietnam opens opportunities for shipyard suppliers and maritime equipment and system providers across newbuild and retrofit projects.
This fleet renewal is expected to take place progressively over the coming decades, spanning a wide range of vessel segments—including cargo ships, coastal vessels, and specialized maritime assets—and aligned with Vietnam’s green growth strategy and maritime decarbonization roadmap.
Under the roadmap:
- By 2035, 100% of newly built, imported, and converted ships are targeted to operate on electricity or green energy.
- By 2040, vehicles, equipment at existing ports, and maritime signaling systems are expected to transition to electricity, green energy, or equivalent low-emission solutions.
- By 2050, 100% of ships operating on domestic routes are targeted to convert to electricity or green energy.
To support early market engagement, Business Sweden in Vietnam has established the Green Port & Maritime Initiative, aiming to keep Swedish companies informed and facilitate dialogue with key stakeholders shaping fleet renewal, shipbuilding, retrofitting, and maritime decarbonization investments.
The initiative provides a collaborative platform for Swedish companies to contribute their technologies and solutions to the sustainable development of Vietnam’s transportation system.
CONTACT US
For more information contact Marcus Persson at Marcus.Persson@business-sweden.se