State shipping line suffers $33 mln H1 loss

The Vietnam National Shipping Lines, or Vinalines, suffered a loss of VND660 billion ($33 million) in the first half, its CEO Nguyen Canh Viet said yesterday.

This was the company’s first loss in 16 years of operation, he added.

Part of the loss was reported by the five enterprises that Vinalines had to take over from the Vietnam Shipbuilding Industry Group (Vinashin), another state-owned group.

Viet said the government had approved a hike in the company’s registered capital from VND8 trillion ($389 million) to VND12 trillion, and sought VND1-2 trillion from the Ministry of Finance to tide over this difficult period.

 

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Posted by VBN on Jul 29 2011. Filed under Transportation. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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