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RAIL FREIGHT TRANSPORT DECREASES IN H1
Friday, 09 August 2019 02:01

The Vietnamese railway sector is taking measures to increase the volume of freight transport as it did not meet the set target in the first half of 2019, according to insiders.

 

Chairman of the Hanoi Railway Transport Joint Stock Company (HARACO) Do Van Hoan said that the volume of rail freight transport is declining significantly. 

During January-June, the company loaded over 1.9 million tonnes of goods, and unloaded over 1.8 million tonnes of goods, equal to only 87 percent and 88 percent of those of the same period last year.

This resulted in a decrease in the company’s turnover from both cargo loading and unloading, just equivalent to 92.9 percent of that of the same period last year.

General Director of the Sai Gon Railway Transport JSC Dao Anh Tuan stated that his company fell into the same situation. In the first six months of 2019, the company transported over 438,000 tonnes and unloaded 394,000 tonnes of goods, equal to 92.1 percent and 87.4 percent of those of the same period last year. Its takings from these works were equal to 96.9 percent of that of the same period of 2018.

Hoan attributed the decreases to business difficulties of his company’s major partners, and declines in farm produce exports to China from the northern and southern regions.

To reverse the situation in the remaining months of 2019, he said that on July 31, his company will launch an express freight transport train from Hanoi’s Yen Vien station to Song Than station in the southern province of Binh Duong, with the frequency of five pairs of trains a week.

The official added that the railway sector will continue reducing transport costs to attract more trade partners.

 
HYUNDAI’S LOGISTICS ARM OPENS FIRST SOUTHEAST ASIAN OFFICE IN VIETNAM
Tuesday, 06 August 2019 07:06

 

Hyundai Glovis, a logistics subsidiary of Hyundai Kia Automotive Group from the Republic of Korea, is expanding its overseas presence by opening its first Southeast Asian office in Vietnam.

Hyundai Glovis Vietnam, which was launched earlier this week, will serve as a bridgehead for the company to expand its business in the region.



The company will focus on transporting automotive products and supplying auto parts to a local factory which has an annual output capacity of 80,000 vehicles.

It will also transport non-automotive products such as food, cold chain products, textile and clothing.

Following this, Hyundai Glovis will open an office in Ho Chi Minh City in the first half of next year which will manage non-automotive logistics.

The company said with the growing cold chain market globally, which is expected to reach a market size of 293 billion USD by 2023, it will strive to establish a system in Vietnam. It is necessary due to the country’s tropical weather, the company explained.

With the addition of the office in Vietnam, Hyundai Glovis currently operates 71 offices overseas. Earlier this year, the company opened offices in Shenzen, China, and India’s Delhi and Mumbai.

 
FOREIGN INTEREST IN VIỆT NAM’S LNG SECTOR REMAINS HIGH
Monday, 05 August 2019 02:01

Foreign investors are diving into developing liquefied natural gas (LNG) and gas-fired power projects in Việt Nam, in part due to country’s growing demand for electricity.

Korea Gas Corporation (KOGAS) became the latest player this week after it entered into a Memorandum of Understanding (MoU) with Energy Capital Vietnam (ECV) that provides a framework for the development of a privately funded liquefied natural gas (LNG) regasification terminal, storage, gas supply system and 3,200 MW gas-fired power project near Mũi Kê Gà in the southern province of Bình Thuận.

 

David Lewis, CEO of ECV, said KOGAS' strong presence in the LNG business, along with ECV's position as one of the first LNG movers in Việt Nam, allows both companies to leverage each other's strengths to bring low-cost LNG to Việt Nam and help address critical energy security needs.

 

Interest among foreign investors in Việt Nam’s natural gas and LNG sectors continues to be high, with the likes of Tokyo Gas and Marubeni Corporation interested in forging ties with domestic entities for potential opportunities in LNG, while the US Trade and Development Agency pledged its support to help improve Việt Nam’s energy security status by providing smart, clean technology and developing the LNG power industry.

LNG consumption in Việt Nam is expected to grow at a robust average annual rate of 10 per cent over next decade, driven by Government efforts to gradually diversify away from coal in favour of cleaner alternatives, and the introduction of several LNG import projects to supplement declining domestic production.

The Government has primarily centred on renewable sources such as solar and wind, although their intermittent  nature continues to raise questions about reliability, while hydropower, currently a prominent part of the national power mix, is increasingly being scrutinised for its harmful effects on the environment.

 

This opens up room for gas-fired power generation to assume a larger role in the national power mix, as a cleaner, less- environmentally hazardous alternative to coal and hydropower with a more reliable baseload power source compared with most renewables.

 

The country’s current power plan – the Power Development Plan VII, revised in 2016 – provides for the construction of 8GW of new gas-fired capacity across Kiên Giang, Đồng Nai, Quảng Nam and Bình Thuận provinces between 2021 and 2027. The projects are likely to be retained in the forthcoming energy plan.

 

According to analysts from Fitch Solutions, Việt Nam’s current crop of gas-to-power projects have a good chance of coming online as planned due to a combination of supportive factors including availability of funding, rising foreign capital inflows into the domestic power, natural gas and LNG sectors and increasingly supportive Government rhetoric for reducing emissions and promoting greater gas use.

 
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