Vietnam Shipping Industry Hoists Distress Signals

MarineLink.com/Dan Tri International (Vietnam)
Monday, July 15, 2013
Photo couresy of Vinalines Vietnam

A number of shipping companies in Vietnam are facing huge losses, some on the brink of bankruptcy, due to lack of clear development strategies, reports Dan Tri International (DTI).

Citing a Vietnam Maritime Administration report on shipping development plans from 2013-2020, and with a view to 2030, DTI says that Vietnam has rapidly grown its number of ships without proper management methods or plans to deal with sudden market changes.

The report also pointed out several other shortcomings, such as old ships, or vessel types that are not in demand.

As of this year, about 40% of cargo ships were over 15 years old and do not meet international requirements for maritime safety, which Vietnam has agreed to through international conventions. More than 40 have actually been banned from maritime activities altogether.

Referring again to the report, DTI says that  40% tonnage of vessels will be cut down so that, by 2015, the total tonnage of the Vietnamese fleet will be reduced to 2.5 million DWT.

Source: Dan Tri International (Vietnam)

 

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Baltic Sea Freight Index Down on Lower Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday, pulled down by a fall in rates across all vessel segments.

Blaze hits Mexico Oil Platform, 300 Workers Evacuated

Mexican state-run oil company Pemex said on Wednesday that it was fighting a fire on oil platform in Campeche Bay on the Gulf of Mexico, home to the country's biggest oil field,

Donjon-SMIT Relocating to Houston

Alexandria, VA- Donjon-SMIT, the unique provider of Oil Pollution Act of 1990 (OPA 90) Salvage and Marine Firefighting (SMFF) services established by Donjon Marine Co.

News

Baltic Sea Freight Index Down on Lower Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Wednesday, pulled down by a fall in rates across all vessel segments.

Blaze hits Mexico Oil Platform, 300 Workers Evacuated

Mexican state-run oil company Pemex said on Wednesday that it was fighting a fire on oil platform in Campeche Bay on the Gulf of Mexico, home to the country's biggest oil field,

Donjon-SMIT Relocating to Houston

Alexandria, VA- Donjon-SMIT, the unique provider of Oil Pollution Act of 1990 (OPA 90) Salvage and Marine Firefighting (SMFF) services established by Donjon Marine Co.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Offshore Oil Pipelines Port Authority Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1921 sec (5 req/sec)