08:35 | 09/05/2018 Companies
(VEN) - With 60 years of experience in the field of logistics, a strong fleet, and well invested seaports and ocean shipping services, the Vietnam National Shipping Lines (Vinalines) has become the biggest provider of logistics services in Vietnam.
In recent years, although it has faced many difficulties, Vinalines is consistent with its equitization and business efficiency improvement targets. The corporation has prepared appropriate development strategies to reach sustainable growth and maintain its leading position as a dynamic, creative and effective business with a high sense of corporate social responsibility. While transforming into a joint stock corporation, Vinalines makes a full use of existing resources to expand market and improve business efficiency. The corporation works with member enterprises to provide integrated shipping, seaport and logistics services while increasing seaport capability, with priority given to developing Cai Mep-Thi Vai deep-water ports, developing waterway transportation in the northern region and the Mekong Delta, and combining domestic container with intra-Asia feeder services using the Vinalines brand.
In 2017, Vinalines officially launched the Vinalines Hau Giang Port, taking the total number of the corporation’s seaport enterprises to 16. Of these, the Khuyen Luong domestic port and Vinalines Dinh Vu Port, which is under construction, have 73 wharves totaling more than 13,033.5 meters in length and 142.7 million tonnes per year in designed capacity, accounting for 26.29 percent of the country’s total. Cargo handled through Vinalines seaports accounts for 20.1 percent of all cargo handled through ports in Vietnam, with containers handled through Vinalines ports represent 26.6 percent of all containers handled through ports nationwide.
Vinalines ports are located throughout the country, most of which have important location for cargo transportation, trade exchange, economic development, and national defense and security. Some deep-water ports in the Cai Mep-Thi Vai area are capable of receiving the world’s largest container ships of up to 190,000DWT (dead weight tonne). In terms of investment and seaport operation and management, Vinalines consists of different kinds of member businesses, including four joint stock ports, two one-member limited liability companies, one two-member limited liability company, and 11 port joint stock companies.
Regarding maritime services, Vinalines has 12 enterprises, mainly providing such maritime and logistics services as agent, warehouse and transportation services. Vinalines businesses are managing a total warehouse area of 582,577 square meters.
In addition, Vinalines has 13 ocean shipping companies with a fleet of 88 ships totaling 1.85 million DWT in tonnage, accounting for about 25 percent of the country’s total.
Along with continuing investment in its business lines, Vinalines has improved its business capability through cooperating with other corporations. Vinalines has signed agreements with partners to provide coal, steel, ore, clinker, and nitrogenous fertilizer transport services while offering logistics chain services to such leading groups and corporations as Vietnam National Coal – Mineral Industries Holding Corporation Limited (Vinacomin), Vietnam National Oil and Gas Group (PVN), Hoa Phat Steel Joint Stock Company, Vissai Ninh Binh, Cong Thanh Group, Five Star International Group, Vinaconex Trading and Manpower Joint Stock Company (VCM), and Kangaroo Group.
Vinalines is working with the Dong A Company to offer transport and logistics services related to material, fuel, machinery and equipment transport between Vietnam and Myanmar. The corporation has also transported coal and ores from Russia to Vietnam and vice versa, and developed ports and cargo transport and distribution services related to the Cambodian market in cooperation with the Five Star International Group.
Vinalines has signed agreements and memoranda of understanding (MoUs) on business development and using services of each other in the areas of port development, coal transportation, logistics, human resources development, and technology solutions with the Five Star International Group, Vinacomin, NYK (Japan), Vung Tau Shipyard, STC Group (the Netherlands), Vinacomin - Coal Import Export Joint Stock Company (Coalimex), Rent a Port/Deep C (Belgium), VN Post, Force 21 (Singapore), TIPC Group, O’s&Tec (Japan), and Meridian (Singapore).
Success resulting from strenuous efforts
Thanks to its great efforts, in 2017, Vinalines earned total revenue of more than VND15.59 trillion, including profit of VND515 billion, with cargo transported by the corporation and goods handled through Vinalines ports growing 6.3 and 13 percent compared to 2016, respectively. The transported cargo growth is partially attributed to the Vinalines Shipping Company (VLC)’s 12-percent increase and the Vietnam Ocean Shipping Joint Stock Company (Vosco)’s 36.3-percent growth. The growth of cargo handled through Vinalines ports is partially attributed to the Saigon Port Joint Stock Company, the Danang Port Joint Stock Company, and the Nghe Tinh Port Joint Stock Company, with a total growth of 18.8 percent.
In 2017, Vinalines earned a profit double what it reached in 2016. This is the result of loss minimization efforts by ocean shipping businesses, including Vosco, Hai Phong Port, Da Nang Port, Saigon Port, Nghe Tinh Port, and Vinalines Logistics. These are signals of steady growth after the restructuring period. Bringing into play its rich experience, Vinalines has been strengthening its leading position in Vietnam’s maritime and logistics industries.