APM Terminals entered into a joint venture agreement with Vinalines, part of Vietnam’s largest shipping line and terminal operator Vietnamese National Shipping Lines, to develop Vietnamese ports.
APM Terminals and Vinalines are already partners in the Cai Mep International Container Terminal in Southern Vietnam, where they are building a 1.1 million TEU port near Ho Chi Minh City that is scheduled to open in the fourth quarter of 2010.
Vinalines is a Vietnamese state-owned maritime corporation that was established in January 1996 to help the development of the country’s maritime infrastructure. In partnership with global companies, Vinalines is developing general cargo, container terminals and transshipment hubs.
Vietnam ranks as one of the fastest growing economies in the world after China and India, making it a priority for the world’s shipping lines. To serve that market, APL, Hanjin Shipping and MOL set up direct services between Cai Mep and the U.S. West Coast earlier in the summer. Maersk Line started a new feeder service earlier this month from Vietnam to Hong Kong that connects with its TP-6 trans-Pacific service.
The Journal of Commerce Online
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