Vinalines News

The Vietnam National Shipping Lines Corporation (Vinalines) has set sights on joining the global shipping alliances (GSA).As part of this move, Vinalines will devise a number of measures to further promote growth of its three key sectors of seaport, shipping industry and maritime services.According to Acting General Director of Vinalines Nguyen Canh Tinh, the firm will focus resources on these three decisive fields, which are expected to create breakthrough development for the corporation.Vinalines will pay attention to improving its competitiveness through providing all-in-one logistics service to customers, and promoting application of information technology…

CMA CGM Marco Polo, the largest container ship in the world, docked at the major international seaport Cai Mep International Terminal (CMIT) in the southern Vietnamese province of Ba Ria-Vung Tau, commencing a new weekly service to transfer cargo directly from Vietnam to Northern Europe.Important guests, including senior government officials will attended the vessel maiden call’s celebrations jointly organised by CMIT and CMA CGM at the Cai Mep terminal in Ba Ria Vung Tau Province.CMIT is a deep-sea container terminal and market leader for global ocean carriers serving the South Vietnamese economy. Since 2018, CMIT operates with a license to handle container vessels up to 194…

Vietnam National Shipping Lines (Vinalines), the state-owned marine transporter, won approval recently to build two large container terminals at Lach Huyen Port in northern Hai Phong City in a 7 trillion dong ($302 million) project.According to Nguyen Canh Tinh, director of the state-run Vietnam National Shipping Lines (Vinalines), said its subsidiary, Haiphong Port JSC, would build terminals No.3 and No.4 at the port.He said the Haiphong Port JSC used to work mainly at Hoang Dieu terminal, which has now been taken over for the construction of an urban area, and so new terminals are needed in its place.The two proposed terminals would have a total length of 750 meters and the capacity to handle vessels of up to 100…

A shocking number of bulk carriers (as well as a few OBOs – ore/bulk/oil carriers) have been suddenly and catastrophically lost at sea in the last 30 years. Following are the names of some of those vessels, in alphabetical order:- Asian Forest (2009); - Black Rose(2009); - Bulk Jupiter (2015); - Derbyshire (1980); - Emerald Star (2017); - Harita Bauxite (2013); - Hong Wei (2010); - Hui Long (2005); - Jian Fu Star (2010); - Nasco Diamond (2010); - Stella Daisy (2017); - Sun Spirits (2012); - Trans Summer (2013); and - Vinalines Queen (2011).

Vietnam’s government is targeting to raise VND4.89 trillion ($210 million) from an initial public offering (IPO) of Vietnam National Shipping Lines (Vinalines) scheduled on September 5, 2018.According to an official release on Hanoi Stock Exchange (HNX), Vinalines will auction 488.82 million shares, or a 34.8 per cent stake at the price of VND10,000 ($0.4) apiece at the HNX. Its charter capital is estimated at approximately VND14 trillion ($616.7 million).The IPO is part of Vietnam’s broader privatisation programme to increase the efficiency and performance of state-owned firms, and to fill government coffers as public debt nears the mandated ceiling of 65 percent of its gross domestic product (GDP)…

The maritime shipping crisis has forced shipping firms worldwide to join alliances to improve their competitiveness. Such alliances have also been set up in Vietnam. Vietnam National Shipping Lines (Vinalines) CEO Nguyen Canh Tinh said connecting subsidiaries to improve resources and competitiveness, and to open new routes, is one of the most important plans being implemented by Vinalines. The container transport route to Hong Kong, a service jointly provided by Vinalines Container and Bien Dong Shipping, two subsidiaries of Vinalines, was launched recently. Container ships of the two companies will carry 1,800 TEUs per 14-day round trip on HCMC – Hai Phong – Hong Kong – Hai Phong – HCMC route and will dock at Tan Vu, Tan Thuan and HIT (Hong Kong) ports.

On June 29, Vice Minister of Transport in Vietnam, Nguyen Van Cong accompanied by delegates from Vietnam Maritime Administration (VMA) and Vietnam National Shipping Lines (Vinalines) visited Hyundai Merchant Marine(HMM).   The delegates arrived Korea on 26th at the invitation of Busan Port Authority (BPA).    HMM CEO, Yoo Chang-Keun and executives have attended the meeting, discussing various cooperative methods for port business in Vietnam.   The Vietnamese delegation was in Korea to attend Korea Maritime Week.

Vietnam National Shipping Lines (Vinalines) and Vietnam National Coal - Mineral Industries Group (Vinacomin - TKV) signed a memorandum of understanding (MoU) for a strategic co-operation agreement, Viet Nam News reported. As per the agreement, Vinalines will provide services of container shipping, barges and bulk carriers as requested by Vinacomin to transport goods to local and international destinations. Vinalines and Vinacomin explore the possibility of cooperation in the field of maritime and logistics services provided by Vinalines such as forwarding services, warehousing, shipping agents, shipping agents, customs agents. For domestic shipments and import and export of TKV.

The Vietnam National Shipping Lines (Vinalines) and the Ministry of Transport (MOT) hope the plan to reduce the state’s ownership ratio in the big shipping firm to 36 percent will help restructure the business. It   has finalized an overall plan for the development of its seaport network, for submission to the Ministry of Transport and then the Prime Minister for a decision. The watchdog agency MHA has realized that investors would not be interested in Vinalines’ shares if the State intended to hold a big proportion of shares after equitization. The plan is to equitize Vinalines, described as “very daring” under which the State will hold 36 percent of chartered capital only after selling seaports and equitizing subsidiaries.

Vietnam says no to foreign firms to provide container transportation service on domestic routes, says a report published in VietNamNet Bridge. The Vietnam Maritime Bureau (Vinamarine) has sent a dispatch to the Ministry of Transport (MOT) seeking to continue policies to protect its fleet in the domestic transportation market. The increase in the number of vessels and the unchanged volume of goods are the two reasons it cited as a basis for the proposal. Earlier in 2013, Vietnam imposed a ban on foreign firms. However, the decision did not specify whether the ban would be removed in the future, or if would be valid for an indefinite time. There have been reports that a foreign shipping firm has been lobbying for their return to the domestic market.

The Hanoi People's Court in Vietnam's has opened a three-day hearing of the corruption charge against former chairman of Vietnam's National Shipping Lines (Vinalines) Duong Chi Dung and 9 others, reports Xinhua. According to the indictment, Duong Chi Dung and the nine other employees have been charged with deliberately violating state regulations on economic management and causing serious consequences through the embezzlement of state property. Specifically, Dung and the other defendants violated regulations by purchasing a used floating dock from abroad, which did not meet licensing or registration requirements, at higher price than real value in 2007-2008, causing a loss of almost 367-billion Vietnamese dong (US$17.4-million).

One of the most pressing problems for the bulk shipping industry is the safe carriage of nickel ore. The increasing demand for this commodity is fuelled by China’s thirst for nickel ore as it is the principal alloy component for stainless steel. Chinese nickel ore imports have spiraled from nearly 5m metric tons (mt) in 2006 to near 50m mt in 2011. The bulk of these imports come from Indonesia, with the Philippines now running very close behind. But this fast-expanding trade has been marred by the heavy price paid in terms of lives and vessels lost. In August, the 2012-built Trans Summer sank off Hong Kong, but all 21 crew were saved by rescue helicopters. All these vessels were carrying nickel ore from Indonesia to China.

Construction of Van Phong International Transshipment Port has ceased, opening door to investors says economic zone official. The $3.6 billion transshipment port, fully funded by the debt-laden Vietnam National Shipping Lines , or Vinalines , was started nearly three years ago, on October 31, 2009. However, the government has ordered the investor to stop construction, after 114 piles were successfully laid in the Van Phong Bay in the coastal province of Khanh Hoa. Phi said he is not surprised by the government’s request. “It’s difficult for Vinalines to continue implementing the project, given its poor ability,” he told Tuoi Tre. Phi added that without the role of Vinalines…

Vietnamese state-run shipping line, ports, are US$2-billion in debt due to mismanagement "irregular expenses" According to a Reuter news report by Ngo Thi Ngoc Chau, Vinalines has become a bloated behemoth with 18,000 workers, a fleet of loss-making ships and $2.1 billion in debt. In recent weeks, two senior executives have been arrested, its former chairman is on the run, and the firm has become a byword for mismanagement. Vinalines and other debt-ridden state companies are turning into a big test of the government's graft-fighting credentials and whether Communist-run Vietnam is likelier to reclaim its status as a star among emerging markets or sink deeper into an economic malaise rooted in a state sector plagued by red ink and cronyism.

The Board of Directors of the International Chamber of Shipping (ICS), whose member national shipowners’ associations represent all sectors and trades and more than 80% of the world merchant fleet, met in London on 6 February. ICS members reviewed the continuing threat to shipping from Somali pirates in the Indian Ocean. Noting that the capability of Somali pirates is actually higher than it has ever been, ICS believes that effective compliance with Best Management Practices by shipping…

Clay Maitland chastises industry as appearing to be uncaring in the face of the latest shipping casualty. In two months, the great, the good and the not-so-great-or-good will gather at the annual three-day Jamboree of the Connecticut Maritime Association (CMA). One of the hardy perennial topics is sure to be “the image of shipping”. Although the present economic challenges facing the industry are likely to overshadow most worries about our reputation, it might be useful to examine the degree of damage done by cases like the sinking on Christmas day of the VINALINES QUEEN…

VIDEOTEL Calls for effective training and regulation to avoid tragedy when shipping dangerous bulk cargoes. Whatever the cause of the recent loss of the Vinalines Queen and crew, the message for the industry is a stark one – greater enforcement of the regulations laid down in the IMSBC (International Maritime Solid Bulk Cargo) code is essential, together with effective training for shipowners and crews to deal with what can be the catastrophic effects of an unsafe cargo. The tragedy has again raised issues relating to badly managed dangerous cargoes…

On Christmas day, the bulk carrier VINALINES QUEEN, carrying a cargo of nickel ore from Morowali, Indonesia to China, went missing. The ship and its crew of 22 must now be considered lost. Although it is certainly too soon to ascribe a known cause of sinking, it is probably fair to say, as an American judge did many years ago: “Sometimes circumstantial evidence can be very convincing, just as when you find a trout floating in the milk”. There continues to be a crying need for greater information, understanding and enforcement of regulations – as well as testing – of cargoes that may liquefy.

According to a July 9 report from Thanh Nien News, loss-making shipbuilding giant Vinashin has admitted its massive expansion efforts over the past few years had been overconfident and had led to restructuring it is now undergoing. The government said that the shipbuilder’s debts totaled more than $4.2b. As a result, it has to be restructured so that it can focus only on its core business, the government said. Projects that are not necessary to the company’s development will be transferred to other state-owned enterprises, like Vietnam Oil and Gas Group (PetroVietnam) and Vietnam National Shipping Lines (Vinalines). (Source: Thanh Nien News)

Bach Dang Shipyard Corporation, an affiliate of the Vietnam Shipbuilding Industry Group (Vinashin), on September 18 christened the 22,500-ton VTC Dragon. The vessel was later handed over to the Viet Nam Sea Transport and Chartering Company. The ship, 502-ft. long and 85.3 ft. wide, is equipped with a 6,253 kW engine imported from Japan and was built under the supervision of Japan's NK company. VTC Dragon is the third of its kind built to date under a contract of eight such vessels for subsidiaries of the Viet Nam National Shipping Lines (Vinalines). So far, the ships are the largest to be built by the Bach Dang Shipyard. The shipyard is also carrying out a contract to build ships of 4,900 tons for an Italian owner and a 17,500-ton ship for a Republic of Korea owned company.

The first of a series of eight 22,500-ton ships to be built under a contract between the Vietnam Shipbuilding Industry Corporation (Vinashin) and the Vietnam National Shipping Lines Corporation (Vinalines) was delivered on March 27. The Golden Falcon Ship, built by the Bach Dang Shipbuilding Company – an affiliate of Vinashin, was launched since November 2006. The cargo ship was designed by VINAKITA, a joint venture between Vinashin and Japan’s KITADA, with a 6,230HP main engine. It was built under the supervision of NK, a Japanese registration agency. The 153.2m-long and 26m-wide ship is the biggest bulk carrier built by the Bach Dang Shipbuilding Company and will be operated by Falcon Shipping Company – a subsidiary of Vinalines which specialises in transporting petroleum and gas.

A company official said Vinalines would continue to invest in building new seaports in Dinh Vu, off the northern port city of Hai Phong, in Quang Ninh Province; Hiep Phuoc in HCM City; Cai Mep-Thi Vai in Ba Ria-Vung Tau Province, in addition to Vung Tau container port. The company is aiming for an average cargo capacity of between 50-55 million tonnes at each of its ports by 2010. Vinalines is also looking to turn Van Phong port in the central province of Khanh Hoa into a modern international entrepot. Vinalines expects to complete the first phase of its building plans for logistical and maritime services nationwide by 2010. Vinalines said it is also planning to move into banking and finance, as well as shipbuilding and transport-infrastructure development.

The Pha Rung Shipyard, a member of the Vietnam Shipbuilding Industry Group (Vinashin) on handed over a dry-cargo ship to Dong Do Shipping Lines Company under the Vietnam National Shipping Lines Corporation, Vinalines. The ship, named Dong Ba, is 337 ft. long and 55 ft. wide. Its key engine Hanashin has capacity of 2,647 kW, having a speed of 12.5 miles an hour. It is designed by Japan’s Kitada company and is built under advanced shipbuilding technology meeting international quality standards ISO 9001:2000 with supervision by Japan’s NK Register and Vietnam’s Register of Shipping. Right after the hand-over, Dong Ba ship has been chartered by Japan’s Tsurumaru Shipping Lines Company.