State-run energy firm PetroVietnam is prepared to liquidate a loss-making shipyard it owns.
In a report filed to the trade ministry in Hanoi, PetroVietnam asked for permission to sell Dung Quat Shipyard. If no buyer can be found, it will pursue a bankruptcy sale.
PetroVietnam took over the shipyard from the debt-ridden shipbuilder Vinashin in 2010.
The shipyard employs more than 1,200 workers but is saddled by debts of more than $460m.