Hanjin Sells Vietnamese Terminal
South Korea's largest shipping line Hanjin Shipping has sold its entire 21.3% stake in Tan Cang Cai Mep International Terminal (TCIT) in Vietnam to its affiliate in order to secure liquidity. The financially-troubled shipping line will raise about $33m from the sale. The move came after the government and creditors, led by state-run Korea Development Bank, pushed Cho Yang-ho, the chairman of Hanjin Group, to pour more cash to the ailing shipping arm of the company. TCIT is a joint venture company of Saigon Newport Corporation with Hanjin, Mitsui OSK Lines and Wan Hai as partners. Cai Mep in the Mekong Delta is a huge complex of terminals built in the past 12 years. Almost all the terminals in the area have failed to make money.
Cargotec Delivers Its First Zero Emission(TM) RTGs to Asia
Cargotec has completed the delivery of six Kalmar E-One2 rubber-tyred gantry (RTG) cranes featuring Zero Emission(TM) technology to Vietnam's terminal operator Saigon Newport (SNP) and its subsidiaries, Tan Cang Logistics Joint Stock Company (TCL) and Tan Cang Warehousing Joint Stock Company (TCW). The machines boast major environmental and economical advantages, such as no local emissions, low operating costs and reduced maintenance. All of the cranes operate at Cat Lai Terminal in Ho Chi Minh City.
MOL Starts Vietnam Tugboat Business
Mitsui O.S.K. Lines, Ltd. announced that the company has established a joint venture with two local companies in Vietnam and started a tugboat business. The joint company will allocate high-powered, high-performance tugboats in Vietnam's Cai Mep/Thi Vai area, where deepwater container terminals are now under developing. It will offer safe, high-quality support services for vessels calling at ports in the region, helping meet the needs of Vietnam's shipping industry and international shipping lines. (1) Company name Tan Cang-Cai Mep Towage Services Co., Ltd. (5) Investors Mitsui O.S.K. Lines, Ltd.
MOL, JV Partners Establish Terminal Co.
Mitsui O.S.K. Lines, Ltd. signed a contract to establish a joint terminal operation company with Saigon Newport Company, Hanjin Shipping Co., Ltd., and Wan Hai Lines, Ltd on February 4. The signing ceremony was held in Ho Chi Minh City. The terminal project will be located in Vietnam’s Cai Mep region and is slated to start operation in 2011.
Saigon Newport Orders 10 Kalmar E-One RTGs
Saigon Newport Company (SNP) in Vietnam has awarded Kalmar Industries a landmark contract for ten E-One rubber-tyred gantry (RTG) cranes, destined for its Tan Cang-Cat Lai container terminal near Ho Chi Minh City. The agreement is the latest in a succession of orders from environmentally conscious terminal operators across Asia for Kalmar’s revolutionary all-electric RTG, introduced to the market just over two years ago. SNP’s 6+1 wide and 1-over-5 high units will come equipped with Kalmar’s container position verification system, Smartpath, and will be delivered by May 2008.
