VIMC plans to divest from big seaports

VIMC plans to divest from big seaports

CMSC recommended that VIMC divest capital in seaport enterprises, but only to a 65 per cent ownership rate. 

Trucks carrying containers at Hải Phòng port. VNA/VNS Photo

 

HÀ NỘI — Vietnam National Shipping Lines (VMIC) has completed the corporation's restructuring scheme draft for 2021–2025 and sent it to the related ministries and agencies for comments. VIMC proposes reducing the parent company's state ownership rate from 99.4 per cent to 65 per cent.However, the Committee for the Management of State Capital (CMSC) at Enterprises, a representative of state capital at VIMC, said that seaports are an important component of the maritime industry, a strategic breakthrough in infrastructure. 

VIMC proposes reducing the parent company's capital ownership ratio in member enterprises operating seaports.

Specifically, VIMC suggested reducing the capital ownership of the parent company in five ports to 51 per cent. These ports are Cần Thơ Port (with 99 per cent of the capital), Cam Ranh Port (nearly 81 per cent), Quy Nhơn Port (75 per cent), Đà Nẵng port (75 per cent), Cái Lân port (56 per cent).

For Hải Phòng port, VIMC proposes to reduce the equity ratio from 92.5 per cent to 65 per cent and divest all capital in Việt Nam Hi-tech Transportation Company Limited, where VIMC is currently holding 56 per cent of the capital.

CMSC said that VIMC's member businesses are holding large, important seaports and doing business effectively. In 2021, the profit before tax of port businesses was nearly VNĐ2.6 trillion (US$104.6 million), accounting for 71 per cent of VIMC's consolidated profit, which was mainly from Sài Gòn, Quy Nhơn, Hải Phòng, and Đà Nẵng Port.

CMSC recommended that VIMC divest capital in seaport enterprises, but only to a 65 per cent ownership rate.

As for VIMC's member businesses in shipping, maritime services, and logistics industries, VIMC proposes to divest all capital the company holds in most of these companies, including Oriental Shipping and Trading JSC, Vietnam Sea Transport and Chartering JSC, and Đông Đô Marine JSC.

In the case of Vinaship and VIMC Logistics, VIMC proposed divesting a portion of each company, keeping only 36 per cent of the shares in each.

CMSC agreed with VIMC's proposal on the divestment of member enterprises in the fields of shipping, maritime services, and logistics.

For shipping enterprises, this Committee said that the units mainly operate bulk carriers with a long service life (over 20 years on average), so operating costs are high, and some businesses suffer long-term losses. — VNS

 

vietnamnews.vn
 

Ý kiến bạn đọc
Chủ đề liên quan
Có thể bạn sẽ quan tâm

Opportunities for businesses to increase food exports to Africa

Through the implementation of trade promotion activities, most African countries highly appreciate and trust the quality of many food products of Vietnam.

Develop a set of professional standards for Vietnam's logistics industry

According to the Vietnam Logistics Service Enterprises Association (VLA), up to now, logistics enterprises are in great demand, need to be trained, fostered and disseminated knowledge; as well as updating legal information on standards, measurements, quality or tools to improve productivity.

Ba Ria - Vung Tau: Industrial development associated with seaport advantages

Thanks to the advantage of Cai Mep - Thi Vai deep-water port cluster, over the years, the industry of Ba Ria - Vung Tau province has made great progress, becoming one of the 4 stable economic pillars of the province. With the promotion of the implementation of key transport routes linking the region, in the coming time, the province's industry is expected to give more sweet fruits.

CNL Handled a POWER TRANSFORMER 20/30MVA and OIL-SHELL TR OIL DIALA S4 ZX-I to Brunei.

In July 2022, CNL's Hanoi branch handled a consignment including a POWER TRANSFORMER 20/30MVA weighing approximately 45 tons, as well as its accompanying equipment, and 31 pallet barrels of OIL-SHELL TR OIL DIALA S4 ZX-I.

Development of logistics competitive index aims to develop logistics industry

The launch of the Vietnam Provincial Logistics Competitiveness Index (LCI) is expected to help reduce logistics costs, support production and export development, and attract foreign investment more effectively in the future

Low imports cause Gasoline shortage

The current partial shortage of gasoline and oil has been caused by wholesalers not importing sufficient amounts, says said Deputy Minister of Industry and Trade Do Thang Hai.

Increase the competitiveness of goods from logistics services

The Mekong Delta is the rice, fishery and fruit bowl of the whole country. Therefore, developing a worthy logistics system and improving the competitiveness of key goods of the region in the direction of efficiency and sustainability is essential.

Shipping costs gone down to pre-pandemic level

Freighters have even started accepting small orders at low prices in the hope they may be able to pool them together to make a trip worthwhile.

Warehouses in high demand towards year end

Retailers have begun to fill their warehouses ahead of end of year peak sales.

Chu Lai port strongly develops bulk import and export services

After the pandemic, the wave of supply chain shift to Vietnam is opening up opportunities to develop large production areas across the country, including the Central - Central Highlands, leading to great demand for logistics in this region.