Vinalines

Update news Vinalines

Government refuses to give preferential policies to Vinalines in debt restructuring

VietNamNet Bridge – The Vietnamese Government will not make any preferential policies to support the Vietnam National Shipping Lines (Vinalines) during its restructuring plan.

Vinalines struggles to settle debts of Vinashin

VietNamNet Bridge – While Shipbuilding Industry Corporation, the successor of the debt-laden Vinashin, is about to undergo the second debt restructuring phase, Vietnam National Shipping Lines is struggling to settle debts

BUSINESS IN BRIEF 18/8

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To settle Vinalines’ debts, Vietnam may have to amend laws

 VietNamNet Bridge – Solutions to Vinalines’ debt settlement will not occur unless the government agrees to amend a series of regulations.

BUSINESS IN BRIEF 5/8

 Vietnam steps up Aussie beef imports; Online bill payment garners popularity; PM proposes reviewing Vinalines’ case;

Vinalines case shows that arbitration law is being ignored in Vietnam

 VietNamNet Bridge – Vinalines and its partners agreed in the past that company disputes could be brought to the Vietnam International Arbitration Center (VIAC), but the shipping firm has not obeyed VIAC’s judgment.

Vinalines seeks help for VND65-billion fine

VietNamNet Bridge – Vinalines is facing the fine decided by the Vietnam International Arbitration Center for its violation of contract terms for a pier at Van Phong international transshipment port project in the south-central province of Khanh Hoa.

Vinalines loses lawsuit, must pay VND65 billion to S. Korean partner

The Vietnam International Arbitration Center has decided that Vinalines, the largest shipping corporation in the country, must pay VND65.2 billion in compensation to its South Korean partner for breaking a contract signed between the two parties.

BUSINESS IN BRIEF 20/7

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BUSINESS IN BRIEF 18/7

 Vinalines takes losses for 5th consecutive year; Vietnam becomes ideal market for beer producers; New State-owned enterprises must focus on critical areas; HCM City:Exponential retail growth on the horizon

Vinalines set to launch IPOs for five large port operators

 VietNamNet Bridge – Viet Nam National Shipping Lines (Vinalines) has announced plans for initial public offerings (IPOs) for five more large port operators by the end of the year. Hai Phong Port has already been equitised.

Vinalines faces uphill task to repay its debts

VietNamNet Bridge – Vietnam National Shipping Lines (Vinalines) is faced with the task of repaying VND11 trillion, or US$523.8 million, to 24 credit institutions, nearly half of whom are foreign agencies. 

BUSINESS IN BRIEF 24/6

 Vietnam leads in shrimp exports to Japan; Vietnamese steel nail producer faces US lawsuit; Vietnam exports 200,000 tonnes of rice to Malaysia; State Audit Office to probe Vinalines accounts

Vinalines senior official arrested

 Police from the northern province of Quang Ninh on Thursday arrested Vu Khac Tu, Deputy Director General of Viet Nam National Shipping Lines (Vinalines) for involvement in a VND9 billion (US$423,000) appropriation case.

Vietnamese fleet incurs major losses

VietNamNet Bridge – Vietnam’s fleet of ships are incurring losses even though 80 percent of goods are carried by waterways and seaways.

Gov’t agrees to write off part of Vinalines’s bank debts

 VietNamNet Bridge – Vinalines will not have to pay a part of its bank loan interest under a government decision that aims to help the shipping corporation undergo equitization to restructure itself.

Vinalines chased by creditors from all four sides

 VietNamNet Bridge – The government has not yet made any decisions to help Vietnam National Shipping Lines (Vinalines) find a way out of its massive debt obligation. Meanwhile, creditors have chosen different ways to deal with the shipping firm.

Following Vinashin, Vinalines now lays down conditions for its equitization

 VietNamNet Bridge – The Vietnam National Shipping Lines (Vinalines) has asked for a lot of favors to settle debts before it goes equitized.

Death penalty upheld for Vinalines ex-chairman Duong Chi Dung

 The Supreme People’s Court has upheld the death sentence given to Duong Chi Duong, a former chairman of shipping company Vinalines.

BUSINESS IN BRIEF 4/5

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