The Vietnam National Shipping Lines (Vinalines) began operation under the model of joint stock company on August 18, making its new international trading name Vietnam Maritime Corporation (VIMC).
Vietnam National Shipping Lines (Vinalines) estimated it would lose VND992 billion (US$42.7 million) in seaport-related revenue and VND224 billion in profit in the first two quarters of 2020 because of the Covid-19 epidemic.
Vietnam National Shipping Lines will sell approximately 1.52 million shares, equivalent to 24.9 per cent of the International Labour and Services Stock Company.
State-owned Vietnam National Shipping Lines (Vinalines) has paid VNĐ415 billion (US$17.8 million) to reacquire a 75 per cent stake in Quy Nhơn Port JSC, which it had sold illegally to Hợp Thành Investment & Mineral JSC without the Government’s approval.
In preparation for equitisation, the corporation has held two share offerings, in which the initial public offering attracted 42 investors who registered to buy nearly 5.5 million shares
Although there have been some positive signs in recent years, Viet Nam’s sea transport sector still face difficulties with many enterprises suffering heavy losses. The maritime industry is proposing support mechanisms to help the sector out of its stagnant state.
The Vietnam National Shipping Lines (Vinalines) will open a logistics centre for container shipping on December 17 as part of moves to restructure the State-owned firm, according to Deputy Director General Do Thi Ngoc Trang.
The Vietnam National Shipping Lines (Vinalines) said it has partnered with O’s&Tec Joint Stock Company of Japan to implement a cold storage project for the transportation of fresh food and fruits.