Japanese shipping lines race to tap growth in Vietnam

2/18/2011 10:23:35 AM

Japanese shipping companies are rushing to establish a foothold in Vietnam to tap growing demand for shipments of daily necessities and auto parts in the Southeast Asian country, according to Nikkei Report. For the first time, Mitsui OSK Lines (MOL) will have Europe-bound container vessels with capacities of 6,500 TEUs stop at a port near Ho Chi Minh City in southern Vietnam. It will deploy 10 such vessels through Vietnam on a weekly basis. Nippon Yusen KK (NYK), meanwhile, has partnered with state-run Vietnam National Shipping Lines (Vinalines) to start freight services between Southeast Asian countries. The two companies currently supply a container ship with a capacity of 1,100 TEU for 14-day round trips between Thailand, Singapore and southern and northern ports in Vietnam. This month, Kawasaki Kisen Kaisha ("K" Line) and a Vietnamese logistics firm will set up a joint venture in Hanoi to launch an international freight forwarding business by sea and air. The venture also plans to establish a branch in Ho Chi Minh City.   Cargonews Asia

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