The Vietnam Logistics Business Association (VLA) plans to establish a new container shipping line to compete with international lines while also upgrading Vietnam's existing fleet.
According to Vietnamese media, VLA's ambitious plan proposed establishing a container shipping fleet with a total investment of US$1.5 billion to build new ships, purchase old ones, and rent and buy containers, serving imports and exports while limiting foreign shipping lines' interference by lowering costs.
The logistics group believes that specialized containerships, boxes, and a customer support network, as well as a fleet of ships at all major ports, are all necessary investments to push the plan.
Phase 1 of the development will focus on investing in vessels suited for intra-Asia operations to China, India, Japan, South Korea, and the Middle East — that makeup over 60% of the overall volume of dry goods for import-export.
VLA noted that like Taiwan's Wan Hai and Israel's ZIM Shipping, Vietnam should seek out large container lines to collaborate with on docking lots, container exchanges, and the usage of their operating and management software, management, and service systems at ports.
The second phase — which would be implemented within five years — would then target larger vessels from Panamax to Post Panamax for longer routes including major intercontinental routes such as the Asia-North America and Asia-Europe routes, among others after successfully piloting their operations within Asia.
The world's container fleet has around 6,346 ships with a total capacity of 25.5 million twenty-foot equivalent units (TEUs) and an overall tonnage of 305.9 million deadweight tonnage (dwt).
Meanwhile, Vietnam's shipping container fleet only has 10 container shipping companies with 48 vessels for an overall capacity of 39,519 TEUs and a total tonnage of 548,236 dwt.
Reports said at least 16 ships are at least more than 20-25 years old and another 15 have a very small tonnage of 300-600 TEUs which can only operate services within the country.
VLA noted that only 17 vessels — with a tonnage over 600 TEUs — and 14 of these with a tonnage of 1,000-1,800 TEUs could service operations within Asia.
