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 August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

CEVA Opens European Center of Logistics Excellence

CEVA Logistics, a leading global supply chain management company, today announced the opening of its first Center of Logistics Excellence in Europe. Situated in Ashby de la Zouch,

SBM Offshore Announces Thunder Hawk Tiebacks

SBM Offshore is pleased to announce it has signed a Production Handling Agreement (PHA) with Noble Energy to produce the Big Bend and Dantzler fields to the

BHP Billiton Communities and EWB Provide Support to 5 Students

BHP Billiton Sustainable Communities and Engineers Without Borders Support Students in Sustainable Development September 16, 2014 Five university students

News

Bangladeshi Albedo Survivors Helped by their Govt.

Yesterday, 16th September 2014, Chirag Bahri, MPHRP's Regional Director for South Asia, attended a ceremonial event organised by the Ministry of Shipping, Bangladesh

Simmons Assumes Command of USS James E. Williams

Capt. Anthony L. Simmons relieved Cmdr. Curtis B. Calloway as commanding officer of the guided-missile destroyer USS James E. Williams (DDG 95) at sea on Sept.

CEVA Opens European Center of Logistics Excellence

CEVA Logistics, a leading global supply chain management company, today announced the opening of its first Center of Logistics Excellence in Europe. Situated in Ashby de la Zouch,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics 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: 0.2181 sec (5 req/sec)