Vinalines: 15 Years of Brand Development

The Vietnam National Shipping Lines (Vinalines) was established on April 29, 1995 with 24 member enterprises, 49 aging small-sized ships and a total state capital of less than VND1,500 billion. To date, after 15 years of development, Vinalines has become a leading shipping firm in Vietnam.

Vinalines’ shipping output increased 12 percent per year in the 2006 – 2010 period, reaching nearly 33 million tonnes in 2009, 1.5 times greater than in 2005 and more than eight times more than in 1995. The cargo throughput at its ports climbed 19 percent a year, reaching nearly 70 million tonnes in 2009, which nearly doubled the volume in 2005 and nearly sextupled that in 1995.

The corporation’s revenue grew 16 percent per annum on average. In 2009, the shipping line made revenues of more than VND18,000 billion (nearly US$1 billion), nearly doubling that in 2005 and nearly decupling that in 1995. Profit annually increased 14 percent on average. In spite of difficulties arising from the global economic crisis in 2009, Vinalines still attained a profit of nearly VND900 billion, a rise of nearly 1.5 times from 2005 and nearly four times from 1995. It paid more than VND1,200 billion to the State Budget in 2009, almost doubling the amount it earned in 2005 and rising nearly 8 times from 1995.

By the end of 2009, the total state capital at the corporation was more than VND7,200 billion, up 2.3 times from 2005 and nearly 5 times from 1995.

The shipping capacity leaped in the 2006 – 2009 period as the corporation uses more young ships. As of December 31, 2009, the loading capacity of the corporation reached 2.7 million tonnes, more than doubling than that in 2005 and exceeding 100,000 DWT compared with the plan. The shipping line has more container carriers, oil tankers and bulk cargo ships. In 2008, the corporation operated Vinalines Global dry cargo ship with a loading capacity of 73,350 DWT, the biggest of its kind in Vietnam.

Regarding seaport infrastructure investment projects, to redress its deepwater port shortage and support the national seaport system development, the corporation has conducted many studies to build modern and synchronous seaports. Especially, Vinalines is building Van Phong international transhipment terminal in Khanh Hoa province and is preparing to build an international deepwater port in Haiphong City, laying the groundwork for the continuation of the Vietnam Sea Strategy until 2020.

By the end of 2009, Vietnam managed and operated 14,850 metres of berths, an increase of more than 1.5 times from 2005. Each metre of berth supports over 4,700 tonnes per year.

Tags: Vietnam companies, Vietnam enterprises, Vinalines