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ONE joins big 3 lines in levying emergency bunker surcharges
Monday, 18 June 2018 01:43

Japanese liner company ONE is the latest to impose an emergency bunker surcharge, joining industry giants Maersk, MSC and CMA CGM which all imposed surcharges last week. The charges, which it has billed as a Bunker cost Recovery Surcharge (BRS) will range between $20 and $60 per teu and will start taking effect from July 1 onwards.

"ONE has encountered progressive and significant inflation of fuel costs over recent months. Bunker fuel prices have increased by more than 25% during 2018 and could escalate still further," it said in a letter to customers.

ONE continued: "This sustained surge in fuel costs has greatly impacted our cost base.The escalating cost situation has now reached the point at which ONE are forced to respond by  adjusting our approach to bunker related pricing components."

ONE said it will implement these surcharges on all trade lanes except cargo from Mainland China, following Maersk's surcharge policy. The company however is differentiating itself from its competitors by imposing varying charges for the different trade lanes as well as excluding customers that have agreed to a floating BAF mechanism in their contracts.

Transpacific, Transatlantic, Asia-Europe and Asia-Med services will all see surcharges of $50 per teu for dry containers while charges could be as high as $110 per teu for reefers on the European trades. Latin America and Africa trades along with the Asia-Oceania routes will see the highest charges of $60 per teu for dry containers while Intra-Asia will have the lowest charge of $20 per teu and Asia-Middle East comes in between with a charge of $40 per teu for dry containers.

The surcharge for reefers on the European routes is the highest among all the trades and higher than the charges of $90 and $85 per reefer teu charged across the board by Maersk and CMA CGm respectively.

"The BRS quantum will vary by trade lane and will be derived via a logical and equitable calculation mechanism.  In the meantime, The BRS will not be applied if a customer has a mutually agreed floating BAF mechanism in place as a part of their contract construction," ONE said.

"ONE continues to explore all avenues to mitigate fuel consumption and costs for the benefit of the environment and supply chain costs of our valued customers." ONE concluded.

According to Alphaliner figures, the earlier move by Maersk, MSC and CMA CGM would have covered 45.1% of capacity in the liner shipping market. With ONE joining in, another 7.0% of capacity will be affected, meaning 52.1% or more than half of global container line capacity will be applying so-called emergency bunker surcharges to deal with the sustained sharp rise in fuel prices.

Lazada E-logistics to open automatic sorting centre in Hanoi
Friday, 15 June 2018 02:07

Lazada E-logistics Vietnam will officially open its automatic sorting centre in Hanoi on June 12 in a move to achieve sustainable growth and meet the boom in e-commerce.

The centre, which uses robots to sort parcels, is the second of Lazada E-logistics Vietnam, following the first in Ho Chi Minh City. The new facility has a capacity of tens of thousands of parcels per hour.

The move is part of Lazada E-logistics Vietnam's strategy towards going green and sustainable by investing in environmentally friendly vehicles and technology.

"We operate dozens of e-bicycles for delivery services and are planning to increase the number of this kind of vehicle to several hundreds by the end of 2018. We are studying investment in electrically-run three-and four-wheeler vehicles for distribution in the future," said Vu Duc Thinh, country manager of Lazada E-logistics Vietnam.

The green path is thus set, but developing it remains a big challenge, as three-wheeler vehicles are banned in Vietnam.

"We need support and detailed guidelines from government agencies to encourage Lazada E-logistics and others to widely develop electrically-run three- and four-wheeler vehicles in Vietnam in the future," he added.

Lazada E-logistics and Lazada Group have recently sprouted wings to fly high, as they have received an additional investment of $2 billion from Chinese tech giant Alibaba, thus increasing its total investment in the firms to $4 billion to date.

Vinalines on firmer ground for IPO and strategic stake sale
Wednesday, 13 June 2018 02:13

Positive responses from ministries on its equitisation plan will accelerate Vinalines' IPO and place it in a better position to look for strategic foreign investors, adding to its considerable business results and influence in the shipping industry.

MoF has pointed out good assessments for most major contents in the equitisation plan of Vinalines. This is one of four ministries to be consulted on the plan before it can be submitted to the prime minister.

In Document No.5824/BTC-TCDN, Deputy Minister of Finance Tran Van Hieu assessed that the VND14 trillion ($618.8 million) charter capital after equitisation is higher than the book value of VND11.946 trillion ($526.3 million).

Thus, the corporation should issue additional shares to raise charter capital by VND2.1 trillion ($92.5 million). After equitisation, state capital in Vinalines will remain at 65 per cent, equivalent to 913 million shares. From the remaining 35 per cent 208 million shares (14.8 per cent) will be sold to strategic investors, 2.3 million shares (0.16 per cent) at a preferential price to employees, and 0.04 per cent to the trade union.

Additionally, Vinalines will auction 281 million shares (20 per cent of the charter capital) at the Hanoi Stock Exchange (HNX) at the initial price of VND10,000. This volume is four times higher than the plan set forth in December 2017, decreasing the share volume offered to strategic investors by 15.2 per cent.

Tran Tuan Hai, head of Vinalines’ development strategy and communications division, said: “All four ministries have basically finished their assessment of Vinalines’ equitisation plan, agreeing that it is possible and complies with current regulations and the directions of the prime minister.”

If the prime minister approves the plan in June, Vinalines will conduct its IPO in August and will officially start operating as a joint stock company in October. The corporation intends to hire Saigon Securities INC (SSI) for IPO consultancy.

As of December 31, 2017, Vinalines owned ten subsidiaries in shipping, with the total investment value of VND1.52 trillion ($67 million). The corporation holds 91 vessels with the total capacity of 1.85 million DWT. Vinalines also owns 15 subsidiaries in seaport exploitation, with the total investment of VND6.86 trillion ($302.25 million).

Although this sector is still under depression, Vinalines holds stakes in high-profit companies in seaport, shipping, and maritime services. The business results of these subsidiaries are included in Vinalines’ consolidated financial statement.

The prime minister also allowed Vinalines to keep at least 65 per cent of the charter capital in joint stock companies like Port of Haiphong, Saigon Port, and Danang Port. Vinalines will maintain its share in logistics companies and divest as much as possible from shipping companies.

“The short- and long-term potential of the seaport sector will make the parent company’s equitisation more attractive,” confirmed Nguyen Canh Tinh, Vinalines’ acting general director.

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