Yinson to handle Vietnam’s new port

Yinson Holdings Bhd is expanding to Vietnam where it will offer port transportation and related activities.

Managing director Lim Han Weng said its subsidiary Yinson Vietnam Pte Ltd would handle the activities at the new port in Hongtou, about 100km from Ho Chi Minh City. The medium-sized port is currently being built by Petrovietnam subsidiary PTSE and is slated for completion by year-end. “Prospects are good in port transportation in Vietnam due to the booming economic growth,” Lim told. He said that prior to awarding the handling activities at the port, PTSE had a firsthand look at Yinson’s operations at Johor Port, Port of Tanjung Pelepas and West Port. He said PTSE’s decision was based on Yinson’s capability and expertise in providing a supply chain management in transportation and logistics. Lim said the main problem faced by ports in Vietnam now was the average waiting time for vessels, which could stretch up to two weeks. He said the log jam was caused by the inefficiency in cargo clearing.
Read More