Vinalines eyes strategic partnership with a Belgian firm in its equitization plan ahead

By Tieu Phong - Dec 07, 2017 | 07:46 AM GMT+7

TheLEADERAccording to information from Vietnam National Shipping Lines (Vinalines), the Belgian firm Rent A Port is considering the possibility of buying ten per cent of Vinalines' chartered capital when this corporation conducts IPO (initial public offering).

Vinalines eyes strategic partnership with a Belgian firm in its equitization plan ahead
Vinalines owns many attractive competitive advantages for foreign investors. Photo: Vinalines

Vinalines sent a written petition to the Ministry of Transport in order to gain the permission for investing together with Rent A Port which belongs to Belgium's Ackermans & van Haaren Group in terminals from No.5 to No.9 at the Lach Huyen international port of Haiphong province.

According to Vinalines, there will be one specialized port for importing and exporting grain, which is capable of receiving 100,000 DWT ships. In addition, there will also a logistic center of about 250 hectares opposite the grain harbor in order to optimize the handing, storage and distribution of cereals for the whole Northern region.

In last January, Prime Minister Nguyen Xuan Phuc requested the Ministry of Transport to finalize the equitisation plan for Vinalines in the direction that the State holds 65 per cent of charter capital at the parent company and Vinalines holds 65 per cent or more of chartered capital in joint stock companies including Haiphong port, Saigon port and Danang port.

In addition, Rent A Port has also set up a working group to collaborate with Vinalines to survey port facilities, fleet and logistics systems of Vinalines.

Established in 1885, Rent A Port specializes in port investments and management and is one of the largest investment companies listed on the Belgian Stock Exchange. Rent A Port operates mainly in the field of clean energy, investment, port operations and industrial zones in many countries.

With the Deep-C industrial complex, Rent A Port has invested more than US$200 million in Vietnam. This company currently committed to invest US$250 million in additional port projects and industrial zones in Haiphong and Quang Ninh province.

In another move, the information from Vinalines also showed that this enterprise has signed a cooperation agreement with the Taiwan Maritime Corporation (TIPC).

This cooperation agreement focused on a number of contents such as potential cooperation and investment in large seaports' construction, opportunities TIPC can become a strategic investor of Vinalines in the process of equitization and potential cooperation in domestic and international logistics activities of Vinalines.

Gross tonnage of the Vinalines' fleet is approximately two million tons accounting for 26 per cent of that of national fleets. The transport volume of Vinalines fleet makes up nearly 20 per cent of that of the Vietnamese fleet.