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Thăng Long Logistics Centre opens in Hưng Yên
Friday, 19 October 2018 03:52

The Thăng Long Logistics Centre opened on October 4 in Mỹ Hào District, Hưng Yên Province. This is the first modern multi-functional logistics centre in the province.

The centre has a total investment capital of nearly VNĐ280 billion from Transimex Corporation, Vinafreight Joint Stock Company, VNT LOGISTICS Joint Stock Company, Chợ Lớn Investment and Import Export Joint Stock Company (CHOLIMEX) and Tuấn Mạnh Trading and Investment Co, Ltd.

The three-hectare project boasts a general storage system, freezer storage, an eight-storey racking system, humidity control, a camera system, a fire fighting system and modern management software.

Nguyễn Bảo Trung, who manages the centre, said that it will store many types of consumer goods, including food products that need to be kept cool. The centre will also control distribution to customers and shops.

The storage system meets ISO, HACCP and CT-PAT standards. It will store and distribute fast-moving consumer goods (FMCG), fresh foods and raw materials to local people and producers in industrial zones in Hưng Yên and neighbouring provinces.

The centre will develop logistics services based on modern, efficient supply chains to meet northern businesses’ domestic distribution requirements.

The centre is conveniently located to transport goods to Hưng Yên and neighbouring provinces such as Nam Định, Thái Bình and Ninh Bình. It is next to Thăng Long 2 Industrial Park and National Highway 5A. It is 25 km from the centre of Hà Nội and connects the key economic triangle of Hà Nội, Hải Phòng and Bắc Ninh to Hải Phòng Port

 
Transport ministry wants to raise seaport service fees
Wednesday, 17 October 2018 01:26

The Ministry of Transport is considering an increase to seaport service charges in a bid to attract more private logistics infrastructure investments.

Minister of Transport Nguyen Van Cong said many of Viet Nam’s seaport service fees remain lower than fees in the region’s other countries, making potential private investors hesitant to fund new seaport construction projects.

Cong used container loading and unloading charges as an example.

This fee is set at US$30 per container in Hai Phong, $45 in Da Nang and $41 in HCM City.

The same fee is $65 in Cambodia, $52 in Malaysia and $130 in Hong Kong.

“Loading and unloading fees must be raised to increase profits for operators,” Cong said. “Increased profits will lead to new investments and upgraded equipment that will improve service quality.”

Cong said passenger service fees should also be increased. The fee for each passenger is just $0.90-1.10, far lower than the $8 charged in Singapore and $14 in Hong Kong.

Cong pointed out that these low charges mean many of Viet Nam’s seaports run at a loss, making it difficult to attract private investors.

According to Trinh The Cuong of the Viet Nam Marine Administration, a proposal is being drafted to replace Ministry of Transport decree No 3863. The new draft will include two options for fee increases to bring the country closer to regional standards.

The first option would set passenger service charges between $2.50 and $5. Loading and unloading fees would see a 10 per cent rise, from $30 to $33 for 20-foot containers.

The second option would put passenger fees at a minimum of $5 and a maximum of $15. Loading charges would first rise 10 per cent in 2019 before seeing 10 per cent rises again in 2020 and 2030. This would bring loading fees to a final rate of $41 for 20-foot containers.

The ministry said it will submit the draft by the end of the month.

Representatives from Hai Phong, Da Nang and Chan May ports, meeting at a recent workshop, agreed passenger charges should increase to $15.

According to Cong, the higher fees would not translate to higher prices for consumers because the increases are already included in transport charges paid to logistics firms.

Cong also said it is necessary to improve transport infrastructure to reduce logistics costs. Viet Nam’s logistics costs remain high, accounting for 20.9 per cent of GDP. This is higher than China’s 19 per cent, Thailand’s 18 per cent and Japan’s 11 per cent.

Cong pointed out the underdeveloped nature of the country’s transport infrastructure. Viet Nam needs to connect production zones to seaports and airports, he said. In addition, the shortage of large-scale centres for circulating goods drives up logistics costs.

 
Vinalines to debut on UPCoM on October 8
Monday, 15 October 2018 01:44

State-owned shipping firm Vietnam National Shipping Lines (Vinalines) will trade 5.4 million shares on the Unlisted Public Company Market (UPCoM) on October 8, announced by the Hanoi Stock Exchange.

The shares, under code MVN, will start the first trading day at 10,000 VND (43 US cents) per share.

At this price level, the company’s market capitalisation will reach 54 billion VND.

On September 5, Vinalines put up 488.8 million shares, or a 34.8 percent stake, on sale but only 5.43 million shares were taken at an average price of 10,002 VND.

According to the equitisation plan, Vinalines will have chartered capital of nearly 14.05 trillion VND, thus trading volume on UPCoM accounts for less than 0.4 percent of Vinalines’ capital.

Vinalines, founded in 1995, is a 100 percent State-owned enterprise. It was transformed into a holding company in 2006 and a State-owned one member limited company in 2010.

In 2017, its consolidated financial statement recorded total sales of 13.57 trillion VND, down 7.4 percent year-on-year, and a loss of 537 billion VND from business activities. However, other profits of 1.5 trillion VND lifted the company’s after-tax profit to 748 billion VND, double the previous year.

Ending 2017, Vinalines had total assets of over 28 trillion VND but its liabilities were up to 20.2 trillion VND. The company still incurred cumulative losses of 3.25 trillion VND.

In the first half of this year, Vinalines recorded revenue of 6.3 trillion VND and net profit of 23.9 billion VND.

 
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