Vinalines' US$3 billion expansion plans

Mai Van Phuc, director of Viet Nam National Shipping Lines (Vinalines), said that the company plans to invest around US$3 billion through 2010.

Phuc said the money would go towards fleet expansion, transport services development and port infrastructure. Vinalines is currently acquiring newbuilds and secondhand vessels, to increase its total capacity from 2.1 million tonnes at present to 2.8 million tonnes by the end of 2008 and up to five million tonnes by the end of 2010. I talso aims to replace older vessels with newer and bigger ones. Phuc said Vinalines also had 11 infrastructure projects in the works, most notably the Van Phong International Ship Container Terminal, to be Vietnam's biggest, due to start construction in June.

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