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Wednesday, 12 June 2019 04:49

State-owned Vietnam National Shipping Lines (Vinalines) has paid VND415 billion (US$17.8 million) to reacquire a 75 per cent stake in Quy Nhon Port JSC, which it had sold illegally to Hop Thanh Investment & Mineral JSC without the Government’s approval.

Vietnam Depository Centre has recorded the transfer of ownership to Vinalines. The shipping group will take over the port management from this month.

“Vinalines has paid VND415 billion, equal to the amount that Hop Thanh spent to buy a 75 per cent stake in Quy Nhon Port from Vinalines,”Tran Tuan Hai, head of Vinalines’ communication division, told transportation newspaper.

Hai said the money Hop Thanh had invested in the port after the share purchase would be calculated through an independent asset valuation process.

Vinalines has also arranged personnel in Quy Nhon Port’s management board and would take over control of the port in its annual shareholders’ meeting at the end of this month, he added.

Quy Nhon Port, located in Binh Dinh Province, is a major port in the central coast with a storage network of nearly 21,000sq.m of warehouses and 48,000sq.m for containers. Last year, a record eight million tonnes of goods passed through the port.

In 2013, the port was transformed into a joint stock company with charter capital of more than VNĐ404 billion, of which Vinalines owned more than 75 per cent stake.

Vinalines was reported to sell these stakes to private company Hop Thanh Investment & Mineral JSC which had no prior experience in operating a port for lower market price during 2013-15.

Last September, the Government Inspectorate concluded the deal violated the law as the Ministry of Transport authorised the sale without the approval of the Prime Minister. The inspectors requested Vinalines to recover the stakes sold to Hop Thanh.

Vinalines reported net revenue of VND2.9 trillion ($124 million) in the first quarter of this year, down 10 per cent  year on year

Friday, 07 June 2019 03:34

The Panama Canal has announced it is postponing its latest and sixth draught reduction to 12 June following rainfall in the past week.

However, while last week’s rainfall has resulted in the draught reduction being postponed more rains will be required if it is not take effect on 12 June.

Unless there is a substantial improvement in the water levels of the Canal’s Gatun Lake and Madden Lake which will be announced, the Maximum Authorised Draught will be for vessels transiting the neo-panamax locks, to 13.11metres (43 ft) effective 12 June down from 13.41 metres (44 ft) Tropical Fresh Water (TFW) which was effective 30 April.

Similarly, the Maximum Authorised Draught for vessels transiting the panamax locks will be 11.73 metres (38.5 feet) Tropical Fresh Water (TFW).

The Panama Canal Authority (ACP) said in an Advisory to Shipping it would “continue to monitor the level of Gatun Lake (which supplies fresh water for the locks) and announce future draught adjustments in a timely manner.”

The low water levels in the Panama Canal have been the product of four or five months of almost zero precipitation. It really has been the driest dry season in the history of the canal, ACP vice president for Water and Environment Carlos Vargas said earlier this month.

Draught adjustments will be announced in 30.5cm decrements, generally with at least four weeks advanced notice.

Wednesday, 05 June 2019 02:45


Despite its fast development, the Vietnamese logistics industry is held back by an acute shortage of human resources from reaching its full potential.


This was shared at a forum on human resources development for the logistics industry in Ho Chi Minh City. The forum discussed concrete actions to close the gap between skills supply and demand in Vietnam’s logistics industry. Its was been held by VLA – Aus4skills and VCCI Vietnam.


Le Duy Hiep, chairman of the Vietnam Logistics Association, said that the domestic logistics industry is undergoing fast-paced development with the annual compound growth rate exceeding 10 per cent. The logistics industry contributes 5 per cent to the country’s GDP. The government has approved an action plan which would grow the logistics sector to contribute 10 per cent of the country’s GDP, with annual growth of 15-20 per cent by 2025.


He further noted that the ongoing trade war between the US and China will prompt American consumers to buy more Vietnamese products, thereby contributing to rising export turnover and creating additional demand for logistics.


Despite the positive outlook, many logistics firms are facing HR shortages from senior management personnel to unskilled workers. In addition, vocational schools also have difficulties in providing training and improving the skills of students. Thus, fresh graduates often get low positions with modest salary at logistics companies and need retraining from their employers.


According to a survey by VLA, in 2017-2020, the logistics industry needs around 200,000 high-quality workers, with professional qualifications, skills, and English proficiency. By 2039, the figure is expected.

to surge to 2 million. Future workers need to be equipped with professional, ICT, and English skills to meet the field’s requirements in the Fourth Industrial Revolution.


Tran Thanh Hai, deputy director of the Import and Export Department under the Ministry of Industry and Trade, said that human workforce plays an important role in developing the logistics industry. To meet the demand, the training needs to be in line with international training standards.


He pointed out that the weaknesses of Vietnam's HR in logistics are discipline and teamwork. Besides providing knowledge and skills, he suggested training institutions need to pay more attention to improving discipline and professionalism for future employees.

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