Business

Vinalines to have new brand name in Q2

The Vietnam National Shipping Lines (Vinalines) will organise its general shareholders’ meeting in Quarter 2, officially changing its trading name to Vietnam Maritime Corporation (VIMC).
Vinalines to have new brand name in Q2 ảnh 1Vietnam Maritime Corporation (VIMC) is the new trading name of Vinalines in Quarter 2.
(Photo: vneconomy.vn)

Hanoi (VNA) – The Vietnam National Shipping Lines (Vinalines) will organiseits general shareholders’ meeting in Quarter 2, officially changing its tradingname to Vietnam Maritime Corporation (VIMC).

The corporation’s revenue during January-March was reported at nearly 2.9trillion VND (124.8 million USD), including more than 1.2 trillion VND (51.65million USD) generated from maritime transport, over 1 trillion VND (43 millionUSD) from sea ports, and the remaining from maritime services.

The sea transport volume was estimated at about 5.2 tonnes, while 24 milliontonnes of goods were handled via sea ports.

According Vinalines’ leader, profit gained in the maritime service sector onlyaccounted for 8.5 percent of the set plan, and this was due to unstable costfollowing a week-long lunar new year (Tet) holiday and fierce competition inthe container freight station (CFS) market.

The company is making preparation for the shareholders’ meeting while workingwith the Ministry of Finance on identifying the joint stock company’s charteredcapital.

The State-owned shipping giant Vinalines’sequitisation plan received approval from the Prime Minister on June 20, 2018,paving the way for the firm to attract strategic investors.

After the firm is equitised, the state will hold 65 percent of thefirm's charter capital, while strategic investors can acquire 14.8 percent.Vinalines will be renamed to Vietnam Maritime Corporation (VIMC).

At present, Vinalines operates 14 seaports nationwide and owns the largest areaof maritime storages in Vietnam through nine associated companies andsubsidiaries. It also owns a fleet of 84 vessels accounting for 25 percent ofthe total deadweight tonnage of the domestic sea transport market. - VNA
VNA
#Vietnam National Shipping Lines (Vinalines) #general shareholders’ meeting #Vietnam Maritime Corporation #corporation’s revenue #Vinalines’s equitisation plan #Vietnam News Agency #Vietnamplus
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