Illustrative photo (Photo: VNA)

Hanoi (VNA)
– The Vietnam National Shipping Lines (Vinalines) and Japan’s NYK Line will study developing transportation and logistics activities to serve plants and industrial parks in the Mekong Delta region, per a Memorandum of Understanding (MoU) inked on June 5.

The MoU was signed at an investment promotion forum held in Tokyo as part of Prime Minister Nguyen Xuan Phuc’s visit to Japan, which drew 1,600 firms from both countries.

NYK Line provides international transportation services with a fleet of 852 ships. The group has 67 branches in foreign countries, including Vietnam.

Meanwhile, Vinalines is a leading maritime transportation firm in Vietnam. The company owns a fleet of ships with total capacity of more than two million tonnes, 26 percent of the country’s total capacity. It has contributed capital to 14 seaport businesses.

In its development strategy, Vinalines will focus on its core capacity to offer value to its customers by integrating seaport transportation activities and maritime services, thereby enhancing its competitiveness.

Vinalines’ initial public offering plan was approved by the PM early this year. Per the plan, the State will hold 65 percent of 12.3 trillion VND (550 million USD)- registered capital of parent company Vinalines. Investors will have opportunities to buy 35 percent, half of which will be sold to strategic investors, with the remainder sold publicly.

Under the plan, Vinalines is also allowed to hold at least 65 percent of registered capital at key ports like Hai Phong, Sai Gon and Da Nang.

The company plans to launch its IPO in December.-VNA