Numerous trade barriers will likely go up stateside, choking off the flow off goods into the Northern American market, especially from ‘non-market economies’ like Vietnam, a practitioner said in Hanoi on Wednesday. William Barriger, a legal counsellor working alongside the Vietnam Chamber of Commerce and Industry (VCCI) since 2003 over the antidumping tax imposed on [...]
Tan Cang-Cai Mep port in Ba Ria-Vung Tau province welcomed the first cargo ship from the leading Latin American CSAV Norasia shipping company on September 18, providing a direct link from Vietnam to the US. CSAV Norasia will operate eleven 23-day journeys each week from Vietnam to Long Beach (California, the US). On the same [...]
The Government yesterday directed the State-owned shipbuilding giant Vinashin to report its existing bank credit debt and propose debt solutions. Vinashin must deliver the report by next Monday. Deputy Prime Minister Hoang Trung Hai instructed relevant ministries and agencies to stabilise production and operations, pay its employees and restructure personnel. The group’s managers and member [...]
Sandbars at the lower mouth of the Mekong river prevent ships over 5000 tons from reaching Can Tho and other Delta ports. That will change by 2013, when a $300 million project to widen and deepen 40 kilometers of canals is completed, permitting 20,000 ton vessels to ascend the river. A thirty year search for [...]
Vietnam Sea Transport and Chartering Joint Stock Co (Vitranschart-coded VST) proposes to sell Phuong Dong No2, a ship. The relevant procedures for selling the ship has been completed excepting for price agreement with the purchaser, said the firm’s representative. This year VST plans to liquidate the two ships: the Far East and Phuong Dong 2 [...]
Based on its analysis of the shipping industry, Business Monitor International has boosted its economic growth forecast for Viet Nam this year from 4.4 per cent to 6 per cent and is predicting an annual average growth of 6.2 per cent over the next five years. In its Viet Nam Shipping Report for the fourth [...]
Permanent Deputy Prime Minister Nguyen Sinh Hung reiterated the Government’s policy to restructure insolvent State-owned shipbuilder Vinashin and to make shipbuilding a core of the national marine strategy, at a working session of the Vinashin Group Restructuring Steering Committee here on Saturday. Hung also called for a review of Vinashin’s current projects and a restructuring [...]
Vietnam Shipbuilding Industry Group sold four newly-built ships worth almost $110 million, as the government tries to restructure and stabilize the state-owned company that almost went bankrupt due to losses. The shipbuilder, also known as Vinashin, is trying to complete ongoing ship-building projects, according to a statement on the government’s website Friday. Vietnamese leaders requested [...]
Prime Minister Nguyen Tan Dung has decided to establish a steering committee for restructuring the country’s largest ship builder, Vinashin, to help it rapidly stabilise and develop after financial problems. Under a decision signed on August 13, the PM appointed Deputy PM Nguyen Sinh Hung as head of the committee, Deputy PM Hoang Trung Hai [...]
Ministry of Public Security police last night detained the ex-chair of Vietnamese shipbuilding giant Vinashin Business Group, Pham Thanh Binh, over alleged mismanagement charges. The arrest was made following a police raid on Binh’s residence in the capital city of Hanoi. He would be in police custody over a period of four months so that [...]
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