Saigon Newport Company welcomes 5 millionth TEU

The Tan Cang-Cat Lai terminal is the first port of Viet Nam to receive the "Green Port" award of APEC port services network. — Photo baohaiquanvietnam.vn

Saigon Newport Corporation (SNP) on Tuesday welcomed its 5 millionth twenty foot equivalent unit (TEU) of cargo this year via its Tan Cang-Cat Lai terminal in HCM City.

The same day, SNP announced it had fulfilled its business targets for the year 15 days in advance. Of which, its profit saw a year-on-year rise of 14 per cent to more than VND3.11 trillion (US$133.5 million) in 2019, the highest-level thus far. The company contributed to more than VND1.61 trillion to the State budget, up 56 per cent year-on-year.

From January to December, the company’s terminals handled 8.75 million of TEUs, surging 15.5 per cent from the previous year and making up nearly 50 per cent of domestic market share.

SNP general director Ngo Minh Thuan attributed the positive performance to the company’s sufficient investment in infrastructure and technical innovation.

The Tan Cang-Cat Lai terminal was the first port in Viet Nam to receive the 'Green Port' award of APEC port services network this year, continuing to be the container terminal with the highest throughput in Viet Nam, according to SNP. — VNS