Vinalines

Update news Vinalines

Vinalines plans to take daring steps to get off the hook

VietNamNet Bridge - The Vietnam National Shipping Lines (Vinalines) and the Ministry of Transport (MOT) hope the plan to reduce the state’s ownership ratio in the big shipping firm to 36 percent will help restructure the business. 

Seafood firms oppose hike in freight charges; could lead to higher transport costs

VietNamNet Bridge - A 70 percent increase in freight charges is expected to lead to a doubling or tripling of transport costs for seafood companies.

MOT to focus on expanding airports, ditches plan to build more seaports

VietNamNet Bridge – The Ministry of Transport (MOT) has scrapped plans to build seaports and instead will expand several airports this year.

Vinalines’ debt-restructuring negotiations reach an impasse

VietNamNet Bridge – The Vietnam National Shipping Lines (Vinalines) has reached agreements with two of its 22 creditors on debt restructuring, but negotiations since then have stalled.

Vinalines hopes to be free from debt following sale of ports

VietNamNet Bridge – Following the sale of Hai Phong Port, Vietnam National Shipping Lines (Vinalines) has decided to sell Nghe Tinh Port and hopes to gain enough money to pay its debts.

Vinalines wants to sell all State shares at Quang Ninh Port

 Vietnam National Shipping Lines (Vinalines) is seeking to offload all State shares at Quang Ninh Port, which is valued at VND622 billion with State capital making up VND500 billion.

DATC to buy $94m Vinalines debt

 The Debt and Asset Trading Corporation (DATC) is negotiating with some banks to buy nearly VND2 trillion (US$94 million) of debt owned by the Viet Nam National Shipping Lines (Vinalines).

Vinalines losses down last year

 Vietnam National Shipping Lines (Vinalines) reported a fall in losses last year thanks to positive cash flow from its shipping business operations which used to cause huge losses for the State-owned corporation.

Vinalines to launch IPOs in Q1

 The Vietnam Shipping Lines Corporation (Vinalines) set to launch initial public offerings in the first quarter of 2015, General Director Le Anh Son announced.

Vietnamese shipping firms vow to monopolize domestic market

VietNamNet Bridge – The Vietnam Maritime Bureau (Vinamarine) has proposed to continue policies to protect its fleet in the the domestic transportation market.

Vinalines’ seaport IPOs fail

VietNamNet Bridge – The recent initial public offerings (IPOs) of Vinalines all failed, with a modest ratios of shares sold on shares offered.

Reduced state holding in Vietnam’s major ports allowed

VietNamNet Bridge – The prime minister just agreed to revise several contents in the restructuring plan of major state-own shipping giant Vinalines in the period 2012-2015,

Vinalines valued at $1 billion

 VietNamNet Bridge – The Vietnam Shipping Lines Corporation (Vinalines) has completed the process of value assessment to that it can carry out privatization in the first quarter of next year.

Vinalines clears debts with share swap

 VietNamNet Bridge – The State Bank of Viet Nam has agreed to transfer some of the debt owed to Vietinbank by the Viet Nam National Shipping Lines (Vinalines) into shares of member ports.

BUSINESS IN BRIEF 12/12

Vietsovpetrol revenue forecast to reach US$4.34 billion;  Weak competitiveness puts Vietnamese businesses in challenges from AEC; Vinalines raises VND315 billion from share auction; Google to meet local app developers

Port operators' equitisation attracts foreign investors

 VietNamNet Bridge – Vietnamese seaports are attracting more interest from foreign investors following the Government's decision to sell bigger State stakes in these companies.

Vessels, floating docks to be sunk to maintain islands

VietNamNet Bridge – Maritime experts believe that sinking unused vessels instead of selling them as scrap iron will be the best solution for old, unused ships of Vinashin and Vinalines.

Ex-Vinalines officials get 15-22 year prison sentences

VietNamNet Bridge – The People's Court in the central province of Khanh Hoa yesterday sentenced four people to prison terms of 15 to 22 years in the corruption case

Vietcombank sells Vinalines’ debt

Vietcombank has sold the debt owed to it by the Vietnam National Shipping Lines (Vinalines), which is undergoing a mandated restructuring process as requested by the government.

Vinalines’ US$19-million debt sold

 VietNamNet Bridge – Vietcombank has become the first credit institution in the country to sell a US$19-million debt of Vietnam National Shipping Lines, or Vinalines, to Vietnam Debt and Asset Trading Corporation.