Vietnam’s ports and shipping industry is more than sufficient to meet the country’s demand in import-export activities.

The Vietnamese fleet continues to decline in quantity, raising concerns that the domestic cargo transportation strategy may not be completed.

As of the end of the second quarter of 2019, Vinalines reported VND8.1 trillion ($352.17 million) in total outstanding loans, including more than VND5.36 trillion ($233.04 million) in bank loans.

OCD An Thuan Phat Auctioning has announced the auction of Vinalines’ ships on August 9 as authorized by the national shipping line firm.

The Vietnam National Shipping Lines (Vinalines) plans to sell 11 old vessels with total tonnage of more than 230,000 tonnes this year.

Having sold head offices and ships, many shipping firms still cannot pay off debts.

The Vietnam National Shipping Lines (Vinalines) will organise its general shareholders’ meeting in Quarter 2, officially changing its trading name to Vietnam Maritime Corporation (VIMC).

VietNamNet Bridge - 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.

VietNamNet Bridge - The high number of imports of input materials and exports of finished products by foreign invested enterprises (FIEs) has led to an increased growth rate for the seafood industry. 

More shipping firms have reported losses for 2016 and the first months of 2017 as the freight rate and the demand for goods transport have dropped to a 10-year low.

 The Vietnam National Shipping Lines and Japan’s NYK Line will study developing transportation and logistics activities to serve plants and industrial parks in the Mekong Delta region, per a Memorandum of Understanding inked on June 5.

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VietNamNet Bridge - Reports by Vietnamese and international institutions have all pointed out that Vietnam’s logistics industry is weak in competitiveness. 

VietNamNet Bridge - The continued decrease in freight and transport demand has pushed shipping firms against the wall. Many of them have gone bankrupt, while others have had to sell ships to pay off debt.

VietNamNet Bridge - The bankruptcy of Hanjin Shipping Global has surprised the world’s freight & forwarding market and caused alarm among Vietnamese goods owners.

VietNamNet Bridge - The Vietnam National Shipping Lines (Vinalines) has asked for the Ministry of Transport’s permission to sell an 83M floating dock for VND34.8 billion, or $1.5 million. 

The Vietnam National Shipping Lines (Vinalines) has reported that 2015 was the first year it registered a profit after three years of conducting a comprehensive restructuring plan.

 VietNamNet Bridge – Vietnam National Shipping Lines will make an initial public offering (IPO) in Q1 of 2016, said Vu Anh Minh, Director of the Ministry of Transport’s enterprise management department.

VietNamNet Bridge - The Vietnam National Shipping Lines (Vinalines), which was considered the country’s leading shipping firm, had by mid-2015 reportedly owed VND2.3 trillion to commercial banks.