Vietnam National Shipping Lines, the country’s biggest port operator, hired Credit Suisse Group AG to help it borrow $100 million for new vessels and to develop new dock facilities. The Swiss bank will help the company, known as Vinalines, get a three-year loan “within the second quarter this year,” Chairman and Chief Executive Officer Duong Chi Dung said in a telephone interview from Hanoi today.
Hanoi-based Vinalines, which operates Vietnam’s national port network, needs money to build ports and increase its 160- ship fleet by 15 vessels, Dung said. The company also plans to sell bonds overseas at the “end of this year or early next year” once market conditions improve, he said.