From January 1 next year, domestic vessels must use 0.5% sulphur limit fuels, or clean energy, as ordered by the International Maritime Organization (IMO).

Having a book value of VND1 trillion and original investment capital of VND1.6 trillion, the ships of Vinashinlines may eventually be sold at scrap iron prices as complicated bankruptcy procedures have stalled its operations.

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 VietNamNet Bridge – If deferring to current law, no business in Vietnam can satisfy the requirements for salvaging retired ships for scrap.

 VietNamNet Bridge – Selling ships is a solution that helps shipping firms survive the current difficulties, but it is not the way they can follow to earn their living.

At a press conference last week, Deputy Minister of Transport Nguyen Hong Truong said 90 percent of the ships that had anchored at overseas ports for a long time of the Vinasin Ocean Shipping Company or Vinashinlines were sold.

 VietNamNet Bridge – More and more ports have been built over the last few years, which has led to the oversupply. A lot of ports have been operating at a moderate level because of the excess of supply over the demand.

A source from Admiralteyskie Verfi has confirmed that the first two submarines, in the total of six atomic submarines being built at this shipyard, will be transferred to Vietnam later this year or in early 2014.

The Ministry of Transport has decided that from January 1, 2013, Vietnam will not renew the container transport licenses and will not grant new licenses to the ships which do not bear Vietnamese flags.