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Vietnam National Shipping Lines (Vinalines) has received an approval for its equitization plan under which it will sell a part of the existing state capital and issue more shares to raise its charter capital.
After equitization, the parent company will have a chartered capital of VND 14.04 billion (USD 614,250), including a state capital of VND 11.9 billion.
The company informed that the State will hold 65% of charter capital, another 14.8% of charter capital will be sold to strategic investors, while 2% of charter capital will be sold at preferential price for VNL employees and trade union.
Additionally, Vinalines was authorizes to implement the plan of selling shares to the public, to choose strategic investors and handle all problems of employees and related content. The lauching of the company’s initial public offering (IPO) will be in September 2018.
According to new management model, the international transaction name of Vinalines will be changed to Vietnam Maritime Corporation (VIMC).
In 2017, the total of tonnage of shipping market reached nearly 25 million tons, while the capacity throughput reached nearly 90 million tons.
CMA-CGM to Acquire ContainershipsFrench container shipping giant CMA CGM has decided to acquire Containerships, a Finland-based company specialized in the intra-European market.
As informed, CMA CGM has signed an agreement with Container Finance pursuant to which the container shipping and logistics business Containerships and Container Finance’s holdings in Multi-Link Terminals and CD Holding will become part of the CMA CGM Group.
The agreement remains subject to approval by the relevant authorities and the estimated closing is between 3-6 months, according to Containerships.
Upon closing of the transaction, Container Finance’s entire container logistics operations will integrate CMA CGM intra-regional market offering in Europe and Mediterranean area.
CMA CGM Group is already present on the intra-regional market through its subsidiaries: CNC in Intra Asia, Mercosul in Brazil, Sofrana in the Pacific Islands regional maritime trade, and MacAndrews in Europe.
Founded in 1966, Containerships is an intra-European Shortsea specialist with a presence in the Baltic market, Russia, Northern Europe, North Africa and Turkey. With a workforce of 560 people, Containerships offers a complete range of services, as well as logistics solutions by ship, truck, rail and barges.
Three Carriers Launch China-Australia Express ServiceShipping companies Hyundai Merchant Marine (HMM), Evergreen and APL have teamed up on launching a new China-Australia service.
The weekly service covers the ports of Ningbo, Shanghai, Yantian, Sydney, Melbourne and Brisbane. It is scheduled to start on August 17, with the first sailing of Hyundai Supreme at Ningbo port.
A total of five 4,600 TEU Panamax vessels will be deployed in the service, with HMM providing two and Evergreen and APL three vessels.
Previously, HMM provided the service through a slot purchase from Maersk, MSC, ONE, and Hamburg Süd.
HMM said it is now elevating its Australian agent to a subsidiary status to strengthen its position in Australia and provide more stable service. The process will be completed before launching the new service.
Separately, Evergreen said that the new service will augment the line’s two current weekly services that call at ports in China, Japan, Korea, Taiwan and Australia. The expansion in service offerings is in response to the increasing trade demand on the route, the company explained.
Source: Vietnam Shipping Gazette, World Maritime News
