The accused are Tran Hai Son and Tran Van Quang, former general director and deputy head of the market planning department of a ship repair company under Vinalines.
Also on trial are Tran Ba Hung, former deputy head of the ship hull manufacturing unit at Hyundai Vinashin Ship Repair Company, and Pham Ba Giap, former general director of Nguyen An Company.
According to court documents, the four defendants colluded to falsify the cost of repairing the floating dock and embezzled more than VND3.6 billion (US$169,200).
Son misappropriated VND2.2 billion while Quang, Hung and Giap took VND857 million, VND395 million and VND178 million, respectively.
At the hearing, Giap admitted to the misappropriation charge while Hung denied charges, arguing that the money he received was the payment for hiring workers and equipment to repair the corrosive part of the floating dock.
Quang also admitted to his actions but said he had given all the money from Hung to Son without keeping anything for himself.
Court documents also stated that Son had given VND150 million to Vinalines ex-chairman Duong Chi Dung, who was earlier sentenced to death for embezzlement and intentionally violating State regulations on economic management.
Dung and three others accomplices were found guilty of appropriating nearly US$1.7 million from a deal under which the unusable M83 floating dock was purchased at a significantly higher price than its real value.
The trial is expected to last three days.
