Vinalines debuted on the Unlisted Public Company Market (UPCoM) on Monday but its shares were restricted from trading until Friday. — VNS PhotoViet Nam News HÀ NỘI — Việt Nam National Shipping Lines (Vinalines) debuted on the Unlisted Public Company Market (UPCoM) on Monday, but its shares were immediately restricted from trading, according to the Hà Nội Stock Exchange (HNX). The reason for Vinalines’ stock trading restriction was that the audit agency had refused to release the final assessment of the company’s 2017 combined financial report, HNX said in a statement. Vinalines’ audit agency had refused to give comments on Vinalines’ financial report because of the firm’s problems with its subsidiaries, the northern market regulator said. Vinalines is recording an accumulative loss of VNĐ3.2 trillion (US$142.2 million). Therefore, Vinalines’ shares are now available for trading only every Friday. … [Read more...] about Vinalines shares restricted from trading on UPCoM
On vinalines
Vinalines conducts roadshow to promote upcoming IPO
At the event, Tran Tuan Hai, head of Vinalines' Development Strategy and Communications Division, introduced investment opportunities in the company to interested investors. Vinalines is the country's largest shipping company and currently owns a fleet of 84 vessels with a total load of 1.87 million deepwater tonnage, accounting for around 25 per cent of Vietnam's national shipping fleet. The firm is also the largest port operator with 15 seaports of a total capacity of 75 million tonnes a year, accounting for 23.53 per cent of the country's total number of piers and 30.37 per cent of the country's total length of piers. In 2017, the seaport business brought about the highest profit to Vinalines, with VND1.257 trillion ($55.6 million). Additionally, Vinalines is a leading logistics services provider with a wide network of warehouses and modern inland container depots along influential seaports. "Vinalines will reduce the state holding to 65 per cent. By 2020, it aims to maintain its … [Read more...] about Vinalines conducts roadshow to promote upcoming IPO
Foreign investors bail on Vinalines sale
A source of Vinalines told VIR that only one investor, named as one of the largest conglomerates in South Korea, had submitted the registration document to buy a 14.8-per-cent stake in the company at the close of registration on July 12. The potential investor was said to have entered the Vietnamese market in the early 2000s. Its core business lines include shipping and logistics. “We have submitted the document for consideration of the potential investor’s capacity to meet the criteria to the Ministry of Transport (MoT). The result should be announced soon,” the source said. The registration result means that many potential foreign investors, including Belgian firm Rent-A-Port and those from Japan, the US, and South Korea, did not join the race, which was expected to become one of the hottest mergers and acquisitions (M&A) deals in the Vietnamese shipping industry in 2018. It is notable that in the middle of last year, Rent-A-Port signed a memorandum of … [Read more...] about Foreign investors bail on Vinalines sale
Vinalines subsidiary proposes two new terminals at Lach Huyen Port
The total investment of the project at Lach Huyen International Gateway Port is VND6.946 trillion ($307 million), 45 per cent of which will come from Haiphong Port JSC and the remaining from loans. The two terminals at Lach Huyen Port are one of the most important transport projects in Haiphong Haiphong Port JSC (under Vietnam National Shipping Lines–Vinalines) has just sent a document to the Ministry of Transport proposing to build two container terminals in Lach Huyen Port (at DEEP C Industrial Zones in Cat Hai district). Accordingly, the firm proposed to build the two container terminals with the total length of 750m and the capacity to receive 100,000-DWT ships. Additionally, the proposal would also include a barge berth where 100-160-TEU barges could arrive. Technical items will be built synchronously to meet the flow of 1-1.1 million TEUs of goods annually. The total investment of the project is estimated at VND6.946 trillion ($307 million), 45 per cent of which … [Read more...] about Vinalines subsidiary proposes two new terminals at Lach Huyen Port
Vinalines to continue downsizing shipping fleet in 2018
Six vessels are under the radar this year, with nearly 222.4DWT (deadweight tonnes). They include Vinalines Fortuna, Vinalines Ocean, Vinalines Sky, Vinalines Glory, Vinalines Galaxy and Vinalines Ruby. — Photo vinalinescontainer.com Viet Nam National Shipping Lines (Vinalines) will continue to downsize its shipping fleet with additional sales of vessels in 2018. Six vessels are under the radar this year, with nearly 222.4DWT (deadweight tonnes). They include Vinalines Fortuna, Vinalines Ocean, Vinalines Sky, Vinalines Glory, Vinalines Galaxy and Vinalines Ruby. Last year, the shipping company sold eight ships. The reduction in the shipping fleet negatively affected Vinalines’ business performance last year. The company’s revenue reached over VND3.1 trillion (US$136.2 million) in 2017, half of 2016’s number. Its pre-tax profit was just VND306 billion, equivalent to 12.2 per cent of 2016’s result. However, with more than 30 subsidiary and affiliate … [Read more...] about Vinalines to continue downsizing shipping fleet in 2018