On August 1^st Hyundai-Vinashin Shipyard (HVS), a Vietnamese subsidiary of Hyundai Mipo Dockyard, began its newbuilding business with the first steel-cutting ceremony of its first vessel. Approximately 200 people attended the momentous ceremony, including the CEO of HMD, head clerk Kanh Hoa, and the president of Vinashin Shipyard. The vessel was a 56,000-dwt Bulk Carrier for E.R.Schiffahrt of Germany, hull number S001. The vessel will be delivered in October of 2009 and will measure 187.8m in length, 32.2m in width, and 18.3m in depth. Including S001, HVS is planning to deliver 2 vessels in 2009, 9 vessels in 2010, and 10 vessels in 2011.