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International Shipping
Vietnam's Vinalines looks to joining global shipping alliances
Date:2020-02-12 Readers:
VIETNAM National Shipping Lines Corporation (Vinalines) has set sights on joining a global shipping alliance by focusing on developing its port management, shipping, and maritime services.

Transshipment and boosting cooperation with foreign shipping firms on its deepwater ports would be at the core of the company's strategy of bolstering its competitiveness and ensuring further growth, UK's Seatrade Maritime News reporting citing the Vietnam News Agency, VNA.

The company also aims to modernise its fleet and replace up to 15 old ships, invest in its infrastructure and new berths at the Lach Huyen Port in Hai Phong City to receive ships of up to 8,000 TEU. Based on the company's investment plan, Vinalines aims to have a fleet of 80 vessels, with the average age of 10-12 years.

The company's fleet structure, according to the plan, would be comprised of 17 per cent of container vessels, 26 per cent of tanker vessels and 57 per cent of bulker vessels. Vinalines wants to invest in vessels that range between 80,000 dwt and 180,000 dwt to bolster its coal and iron ore transportation business. When it comes to the container sector, Vinalines' objective is to keep its position as a leader in container and feeder transport on the domestic market.

The firm is also interested in finding partners to build up intra-Asia container service. For 2020, the company is targeting to handle about 30 per cent of the cargo through Vietnam.

Despite tough market conditions driven largely by geopolitical tensions, Vinalines reported better results for 2019 when compared to a year earlier.

According to Tran Tuan Hai, head of Development Strategy and Communications for Vinalines, the company's consolidated revenue was estimated at more than VND12 trillion (US$518 million), 6 per cent above the 2018 figure. It also reported that some 106 million tonnes of goods were shipped via its port network last year, 12.9 per cent more than in 2018.

http://www.shippingazette.com/menu.asp?encode=eng

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