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Vinalines gears up for huge expansion

Vinalines gears up for huge expansion

Hanoi: Stating its intention to have a fleet of 158 ships of 2.46m dwt capacity by 2010 - requiring investment of some $1.47bn to buy 87 vessels - state-owned Vietnam National Shipping Lines (Vinalines) has inked a strategic partnership with national insurance company and putative investor Bao Viet. Vinalines director general Duong Chi Dung said the move would help his company's ambitions to become a powerful, diversified group involved in the financial and insurance markets, while Bao Viet boss Trinh Tranh Hoan said co-operation between leading domestic groups would enable them to better compete against foreign rivals.  [15/08/06]

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