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VICT Announces Terminal Expansion Plans
Ho Chi Min City, 23 January 2007 - Vietnam International Container Terminals (VICT) plans to upgrade its Ho Chi Min City facilities in order to cater for the growth of containerized cargo.
The expansion will increase the berth length at VICT by 192 metres, which will allow the terminal to berth up to four container vessels at any one time.
There will also be additional investment in wharf side cargo handling equipment such as gantry cranes, reach stackers and refrigerated container connections.
Announcing the expansion at a special ceremony, VICT Chairman Mr. Truong Quoc Hung, said: ?What you see today is a culmination of many years of hard work and preparation. We have achieved our initial aim of providing the best container handling services to our customers and facilitating imports and exports from Ho Chi Minh City. This new expansion will enable the port to enter a new phase in its development as Vietnam?s premier container port.?
The announcement comes during the month Vietnam acceded to the World Trade Organization (WTO), a development that is expected to usher in a new phase of growth, particularly around Ho Chi Min City, which already handles more than 70 percent of container volumes for the entire country.
VICT began operations in 1998 as the country?s first purpose built container terminal. Since then, handling capacity has increased from under 50,000 TEU in 1999, to almost 450,000 TEU last year. The expansion announced today will bring total berth length to 678 metres. VICT?s capacity will also rise to 900,000 TEU (twenty-foot equivalent unit) a year by 2008.
?In the nine years since the terminal first started it operations, VICT has become one of the great success stories of this exciting and fast growing nation,? commented Cedric Foo, Deputy Chairman of First Logistics Development (JV) Company, which owns and operates VICT.
?VICT?s location on the door step of Vietnam?s manufacturing heartland, combined with the ongoing programme of long-term investment in facilities VICT has planned, means it will continue to play a vital role in facilitating Vietnam?s trade with the rest of world into the future.?
About VICT
Vietnam International Container Terminals (VICT) is wholly owned and operated by First Logistics Development (Joint-Venture) Company, incorporated on 22
September 1994
following the investment license 996/GP issued by the State Committee
for Commerce and Investment (SCCI), now known as the Ministry of
Planning and Investment (MPI). VICT was the
first dedicated container port in Vietnam with the participation of
foreign partners. VICT shareholders are Southern Waterway
Transportation Company of Vietnam (SOWATCO) and Mitorient Enterprise,
which is jointly owned by th
e NOL Group of Singapore and Mitsui & Co of Japan. The NOL Group?s effective shareholding in VICT is 47%.
-ENDS-
| 16-01-2007 | Container shipping lines give bright outlook for '07 |
| SINGAPORE, Jan 16 (Reuters) - Container shipping lines that operate between Asia and America expect improved business in 2007 due to rising demand and moderate capacity growth, an industry group said on Tuesday, setting the stage for price hikes. The Transpacific Stabilization Agreement container carrier group said that it had noted a considerable recovery in market conditions this year. "The trend clearly shows a stronger market than many perceived and our industry appears to be getting a bit smarter about how to manage its business in a challenging environment," said Ron Widdows, executive chairman of TSA and an executive at Neptune Orient Lines (NOL) Big shipping firms such as A.P. Moeller-Maersk the world's biggest container line, and Germany's TUI which owns Hapag-Lloyd, warned last year that their profit would be hit by a shipping industry slowdown due to lower prices for shipments, higher fuel costs, and new ships entering the market. TSA said carriers had now recognised that they needed to adjust their capacity to demand for container shipments. It also said that trade between Asia and Europe, which had deteriorated last year causing prices for container shipments to fall, had improved and that this would help business on other routes. TSA expects double-digit percentage growth in demand for container shipping in 2007 and believes that industry concerns over unhealthy excess capacity are no longer valid. But the group said that rising costs for land transport, port services and fuel also meant that prices for container shipments needed to increase. "(Higher costs) translate into a simple choice: improve rates or continue to see poor financial results," J.S. Lee, Executive Senior Vice President of Hanjin Shipping <000700.KS> and a member of TSA's Executive Committee said in the statement. TSA is a grouping of 11 liners in trans-Pacific trade. Its members are NOL's American President Lines, Cosco Container, Evergreen Marine <2603.TW>, Hanjin, Hapag Lloyd, Hyundai Merchant Marine <011200.KS>, Kawasaki Kisen Kaisha <9107.T>, Mitsui O.S.K. <9104.T>, Nippon Yusen Kaisha <9101.T>, Orient Overseas <0316.HK> and Yangming Marine. The TSA and its counterpart covering the Asia-Europe route, the Far Eastern Freight Conference, say they do not set container freight rates, which would constitute an illegal cartel in most countries, but look at factors such as economic growth and fuel costs and then recommend price adjustments. ((Reporting by Jan Dahinten, jan.dahinten@reuters.com, Reuters Messaging: jan.dahinten.reuters.com@reuters.net, +65 6870 3571)) Keywords: TRANSPORT SHIPPING/ . Keywords: TRANSPORT SHIPPING/ . Keywords: TRANSPORT SHIPPING/ | |
Expected annual result announcement date : 28 Feb 07.
NOL is moving into a full SCM solution provider to help cut down logistic costs and turn around time.
And Shipping trust is one of the strategy it will adopt to reap more value from its huge containerships.
| 09:40:15 | 2.530 | 16,000 | buy up |
| 09:40:13 | 2.520 | 41,000 | buy up |
| 09:40:01 | 2.520 | 5,000 | buy up |
| 09:40:00 | 2.510 | 3,000 | buy up |
| 09:39:54 | 2.500 | 274,000 | buy up |
big volume push up the price to intra-day high at 2.53...
somehting should be brewing now with the low fuel price
can anyone put a guess on how much upside still? charts look good but not much excitement today.
thks :)
can anyone put a guess on how much upside still? charts look good but not much excitement today.
thks :)
There might be something boiling behind, rights issue?
who-ray!!!!
It has confirmed it has been granted a licence by Vietnam to provide container transportation and logistics services in the country. NOL said the licence placed the company in a strong position to grow its business in one of the fastest emerging markets.
The Singapore shipping giant will set up a company called APL-NOL (Vietnam) Limited on January 1 to replace its existing joint venture with a local Vietnam company under which NOL has been providing container transportation services.
"Over the coming years, we will further enhance our liner and container terminal capabilities as well as improving the logistics services we offer," said NOL CEO Thomas Held.
"This will enable NOL to keep pace with the fast changing global business environment and provide our customers with the best possible services as they place an increasing amount of their sourcing and manufacturing in Vietnam," he said.
The licence granted by the Ministry of Planning and Investment is based on an agreement signed between the two countries in 2005 to strengthen bilateral economic ties, NOL said.
NOL's new company in Vietnam will have over 140 staff with offices in Ho Chi Minh City, Hanoi, Haiphong and Danang.
NOL and its container transportation arm APL offer more than 60 weekly services and almost 300 calls at more than 90 ports in Asia, Europe, the Middle East and North America.
In the nine months to September, it earned a net profit of US$314.30m on revenues of US$5.28b.
I believe those non performing good blue chips will be on downtrend as fund managers will sell and window dress their portfofilo towards year end.
NOL maybe going through a restructuring process... It may be having a shipping trust in the near future.. after Dr Held probation period??
Remember Land, Air, Sea... divest land, divest air and now going to divest sea...