Alumax Boats, a Dutch firm known for supplying water taxis for the 2012 London Olympics, has launched its first shipyard outside its homeland in Vietnam, through a joint venture partnership. This expansion was marked with a grand inauguration ceremony held on Wednesday at the Thuan Thanh Industrial Park situated in the northern province of Bac Ninh. The joint venture, Alumax Amsterdam, is a collaborative effort between Alumax Boats, the local conglomerate Son Ha Group, and shipbuilder James Boat.
The process of production at the shipyard has been likened to ‘playing with Lego’ by the joint venture representatives. Here, the workers assemble precut aluminium components to create the final product. This is a testament to Alumax Boats’ specialization in constructing aluminium vessels, the expertise that the firm first exported to Vietnam in 2021 during the Covid-19 pandemic through its alliance with James Boat.
As a part of the joint venture, Alumax Boats stands as the provider of core high-performance aluminium shipbuilding technology. On the other hand, Son Ha Group brings to the table its industrial manufacturing capacity, management acumen, and financial resources, while James Boat serves as the technological conduit amongst the partners. The responsibility of vessel design is shared between Alumax Boats and James Boat, with the production designs subsequently transferred to Son Ha’s manufacturing facilities.
The leaders of the joint venture have expressed their optimism about the growing demand in Vietnam for catamaran party yachts. These are open-deck leisure vessels capable of hosting 30 to 50 passengers. Typically, these yachts feature sound systems, dining areas, bars, bedrooms, and spacious decks for the guests to soak in the panoramic ocean views. Acknowledging this, a spokesperson for the joint venture stated, “This has been identified as one of our strategic products to capitalize on the growth of marine tourism in Vietnam and across the region.”
The joint venture has planned to manufacture three yachts, ranging from 6.5 to 16.5 meters in length, this year. It has already bagged orders for government service vessels and yachts worth US$20 million. Son believes that building yachts in Vietnam could result in a price reduction of about 40% compared to imported ones.
The lightweight properties of aluminium lead to improved fuel efficiency. After 40 to 50 years of service life, these vessels can be recycled far more effectively than their steel and composite counterparts, which are still commonly produced in Vietnam.
What makes the joint venture’s production process unique?
The joint venture compares its production process to ‘playing with Lego,’ where workers assemble precut aluminium components to form the final product.
What role does each party play in the joint venture?
Alumax Boats provides core high-performance aluminium shipbuilding technology, Son Ha Group contributes its industrial manufacturing capacity, management expertise, and financial resources, and James Boat serves as the technological bridge between the partners.
What are the benefits of manufacturing yachts in Vietnam?
Manufacturing yachts in Vietnam could result in a price reduction of about 40% compared to imports. Additionally, the use of aluminium leads to improved fuel efficiency and allows for effective recycling after 40 to 50 years of service.
