Signs new agreement with Vietnam’s leading maritime operator
Executives from APM Terminals and Vinalines, part of the Vietnamese National Shipping Lines company – Vietnam’s largest shipping line and terminal operator, have entered into a new Joint Venture agreement to jointly work together to develop Vietnamese ports.
Vinalines is the State-owned maritime corporation established in January 1996 who plays a leading role in the Vietnam maritime industry. As part of its development plan, Vinalines has embarked on the development of general cargo, container terminals and transshipment hubs, seeking to partner with a company having significant operational experience, a strong reputation and a long-term view to the market. The company identified APM Terminals as a partner with those qualities and shared vision that could expand on its existing presence in the Vietnam market.
APM Terminals and Vinalines already have a successful partnership in Cai Mep International Container Terminal (CMIT) in Southern Vietnam, building a 1.1 Million TEU port near Ho Chi Minh City, opening in the 4th Quarter of 2010.
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. “Vietnam continues to perform strong among the emerging economies of the world”, noted APM Terminals Senior Vice President and Head of New Terminals Peder Sondergaard at the signing ceremony, adding “and we are very pleased to expand our partnership with Vinalines in developing the port infrastructure necessary to accommodate the growing role of Vietnam in world trade.”