VIMC makes waves in global shipping industry under new brand

10:00 | 09/11/2020 Companies

(VEN) - The Vietnam Maritime Corporation (VIMC), a leader in Vietnam’s marine transport sector, plans to "rejuvenate" its large fleet and develop container ships and transport routes under the common brand. VIMC currently manages and operates bulk carriers, tankers and container ships, carrying up to 60 percent of imported and exported goods into Vietnam.

vimc makes waves in global shipping industry under new brand

The VIMC's fleet is not only large in terms of quantity and total capacity, it is also the youngest and most modern, meeting the requirements of international conventions and the standards of international registry organizations which are members of the International Association of Classification Societies (IACS). This allows them to enter seaports and oil depots with the most stringent inspection requirements, such as oil ports in San Francisco and Houston, and qualify for insurance by major, reputable P&I Associations in the world.

After its successful initial public offering (IPO) on August 18, 2020, the Vietnam National Shipping Lines shifted to an equitization model under the new brand name VIMC. It also unveiled a new logo, featuring dark blue and light blue tones representing the sea and sky.

VIMC currently holds capital in 19 subsidiaries and 16 associates and shares in 16 seaport enterprises, and manages and operates more than 13,000 meters of wharves, including at key ports around the country such as Hai Phong Port, Saigon Port, Da Nang Port, and Quy Nhon Port.

vimc makes waves in global shipping industry under new brand

VIMC now plans to join international shipping alliances as a container transshipment unit in the region. It will also design integrated services to create a full-service supply chain, including maritime, road and barge transportation, warehousing, and a “Vietnam House” logistics center in Europe.

VIMC negotiated with a strategic partner and chose Belgium as a transshipment location, from which a network of road and air transport agencies will participate in the supply chain. European exports to Vietnam will be collected and brought to the “Vietnam House” and loaded onto ships to Vietnam, and vice versa.

This door-to-door service will significantly save time and costs for traded goods between the two regions, creating a driving force for further trade growth, especially under the newly launched Vietnam-EU Free Trade Agreement (EVFTA).

By 2025, VIMC aims to reach shipping volume of over 18 million tonnes, as well as nearly 139 million tonnes of cargo

at seaports, up five percent annually, in addition to revenue of over VND10.7 trillion and consolidated profit of over

VND1.2 trillion.

Dang Hien