Cai Mep Port (CMIT), SP-SSA Port (SSIT) and the Saigon Container International Port (SP-PSA) in the Cai Mep–Thi Vai area in Ba Ria–Vung Tau province are all joint ventures between Vinalines and foreign partners.
SP-PSA is a joint venture between Vinalines, Saigon Port and Singapore's PSA International, CMIT is a joint venture between Vinalines, Saigon Port and APM Terminals, while SP-SSA is a collaboration between Vinalines, Saigon Port and Seattle-based SSA. Meanwhile, according to Vinalines, as at the end of last year, it had incurred a loss of VND252b ($12.1m) from its ports in the Cai Mep-Thi Vai area.
The new container terminals were designed to take high capacity vessels of up to 100,000 DWT. However, since late March, as container volumes plunged and lines adjusted their services, the number of international ships calling at the ports there has dropped from 16 to 7 per week and this has forced a price war among the terminal operators.
Currently, the container handling fee at the ports in the area is just $32 per container on average, much lower than the expected price floor of $40 per container.
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