mai hien

Qualified labour lacking in logistics
Tuesday, 24 October 2017 02:03

Viet Nam’s logistics sector is facing a shortage of high-quality human resources and needs co-operation in training among the Government, universities, businesses and associations.

Speaking on Thursday at a workshop in Ha Noi on upgrading the logistics workforce, deputy head of the Ministry of Industry and Trade’s Department of Export-Import, Tran Thanh Hai, said only 1,300–1,500 out of over 3,000 logistics suppliers work effectively in Viet Nam.

Though currently contributing only 2-3 per cent of the gross domestic product, the logistics sector is rapidly growing. In addition, the rate of outsourcing in the logistics sector is low, with importers, exporters and trading firms supplying logistics services themselves, often ineffectively.

During the 2017-20 period, the country needs roughly 20,000 high-quality workers meeting professional requirements, including knowledge of English, and the number is expected to surge to 200,000 by 2030. There are three forms of logistics training: university, vocational schools, associations and businesses. Statistics show that Viet Nam has 15 logistics training establishments. However, the number of teachers remains limited.

Logistics companies do not have regular and long-term employment plans, failing to create momentum for labourers to cultivate their skills.

Assoc Prof Trinh Thi Thu Huong, vice dean of the Foreign Trade University’s Faculty of Economics and International Business, urged the Government to continue facilitating logistics activities while concerned agencies and businesses should work closely to outline proper training schemes. The Government should extend international co-operation with tertiary establishments to bring more scholarships to students and lecturers, she said.

Nguyen Thi Van Ha from the Transport University said there was a lack of co-operation between university and businesses. For example, students are not given favourable conditions for internships at logistics firms. Ha urged businesses to co-operate with universities to design training courses for students and help them obtain experience.

The Prime Minister’s Decision No 200/QD/TTg sets a growth target of 15 to 20 per cent a year for the sector and 8 to 10 per cent contribution to the GDP. It also targeted to bring Viet Nam into the top 50 countries with developed logistics services.

According to the World Bank’s ranking, Viet Nam is 64th out of 160 countries in the world and 4th in ASEAN after Singapore, Malaysia and Thailand in logistics development.

With an average growth rate of 16 to 20 per cent a year, logistics has been one of the service sectors with stable development in Viet Nam over the past few years.

MOL names world's largest FSRU
Thursday, 19 October 2017 08:16

The world's largest FSRU owned by Mitsui OSK Lines (MOL) has been named at Daewoo Shipbuilding & Marine Engineering (DSME).

The 263,000 cu m MOL FSRU Challenger was named in Korea on Thursday. The FRSU is due to be delivered in October for deployment in Turkey where it is expected to start operations before the end of the year.

The vessel also has LNG re-shipment and gas transfer capabilities for the re-export of LNG and supply of gas to neighbouring countries.

“MOL is moving boldly into the LNG secondary transport and LNG fuel supply businesses in Asia and Central and South America regions where it anticipates rising demand for LNG,” the Japanese shipowner said.

“MOL will promote the FSRU business, which meets customer needs for diversified LNG procurement, as one of world's largest LNG carrier operators, the only Japanese FSRU owner and operator, and the only Japanese shipping company that owns and operate FSRU.”

Gemadept sells majority stake in two subsidiary firms
Tuesday, 17 October 2017 01:59

The Gemadept Corporation (GMD) has completed the transfer of capital in its two subsidiary firms to CJ Logistics Corporation of the Republic of Korea, the Vietnamese company has announced.

In a filing with the HCM Stock Exchange on October 3, Gemadept said it sold a 50.9 percent stake in Gemadept Shipping Holding Co Ltd and 50.9 percent of its shares in Gemadept Logistics Holding Co Ltd to CJ Logistics on October 1.

After the sales, its holdings in these two companies shrank to 49.1 percent each.

This divestment is part of Gemadept’s restructuring plan, approved at its annual shareholders’ meeting in May, following which Gemadept will sell capital of its affiliate companies to strategic partners.

Proceeds from divestments will be used to pay dividends to shareholders.

Meanwhile, CJ Logistics, previously known as CJ Korea Express Corp, is looking for opportunities to acquire logistics firms in Southeast Asia, aiming to be one of five largest logistics firms globally. In the past two years, it has purchased major stakes in logistics firms in Malaysia, China, Dubai and India.

Gemadept’s CEO Do Van Minh said the company would pay a special dividend rate of 85 percent this year if it completed the share sales in Gemadept Shipping and Gemadept Logistics.

The value of the deals has not been disclosed, but HCM Securities Co (HSC) has estimated that a 51 percent stake in these two companies is valued around 125 million USD altogether.

After paying 85-per-cent dividends, HSC estimated Gemadept could earn cumulative earnings of 2.4 trillion VND (105.7 million USD) from the two divestments.

The capital transfers in the two firms do not include Gemadept’s stakes in seven other companies, including Saigon Cargo Service Corp (SCSC), K Line-Gemadept Logistics Co Ltd (KGL), Lien Uoc Vietnam Transport Co Ltd (YJC), OOCL Logistics, ISS-Gemadept, VNM General Transportation Service Co Ltd and Pacific Shipping Agency Co Ltd, Gemadept said.

In a separate filing to the HCM Stock Exchange, Gemadept said it transferred 15 percent of its capital in CJ Vietnam to CJ O Shopping Co Ltd.

Gemadept is considered Vietnam’s biggest logistics firm with consolidated revenues of 3.74 trillion VND in 2016, of which 57 percent came from logistics and 43 percent from port services.

In the second half of this year, Gemadept reported net revenues of 1.87 trillion VND, up 3.7 percent year-on-year, while its net profit reached 196 billion VND, up 4.3 percent year-on-year.

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