Vinalines teams up with Belgian enterprise to build grain port in Vietnam
The Vietnam National Shipping Lines (Vinalines) inquired with Vietnam’s Ministry of Transport to allow a partnership with Rent-A-Port of the Belgian Ackermans & Van Haaren Group to invest in developing ports in Lach Huyen – Hai Phong international port. Hai Phong is a major port city in northeastern Vietnam.
The two sides are working to develop a specialized grain port, capable of receiving 100,000 deadweight tonnage (DWT) ships, and construct a 250-hectare logistics center opposite the grain port to facilitate the handling, storage and distribution of grain for the northern region.
Rent-A-Port plans to buy 10% of Vinalines’ charter capital when the company launches an initial public offering (IPO) this month.
The Belgian company hired a consultant company to evaluate the financial situation and equtization progress of Vinalines and set up a group of international maritime experts to examine the infrastructure and logistics system of Vietnam’s leading marine firm.
Rent A Port was established in 1885 specializing in port management.
In Vietnam, it has injected more than $200 million into the Deep-C industrial complex, and pledged to add more than $250 million to port and industrial park projects in Hai Phong and Quang Ninh province.
Under the IPO plan, Vinalines is allowed to hold a maximum of 65% of registered capital at key ports, including Hai Phong, Sai Gon and Da Nang.
Vinalines currently manages a fleet of off-shore vessels with total capacity of nearly two million tonnes, occupying some 25% of the national fleet’s capacity.
From now to 2020, Vinalines intends to focus on developing and exploiting sea ports, which play important roles in the northern, central and southern areas of the country and are the lifeline of the national transportation network.
This new development runs along with Rent-A-Port’s signed memorandum of understanding (MOU) with Vinalines in August. Under the MOU the two companies will collaborate to build a dry bulk terminal in the area of Haiphong International Gateway Port as well as create a joint venture to develop a logistics hub opposite the terminal to optimize the loading, unloading, storing, processing and distributing of products.
Vinalines is a Vietnam-based shipping company that specializes in seaports and marine services in Hai Phong. The company is planning an initial public offering in December, and intends to convert the company into a joint venture company in April 2018.
Rent-A-Port is a part of Belgian-based Ackermans & Van Haaren Group (AvH Group). It is a diversified group active in four core segments: marine engineering and contracting, private banking, real estate and senior care and energy and resources. The AvH Group represented in 2016, through its share in the participations, a revenue of €4.9 billion and employs 21,165 people.
Source: World Grain