Yinson Holdings Bhd is expanding to Vietnam where it will offer port transportation and related activities. Managing director Lim Han Weng said its subsidiary Yinson Vietnam Pte Ltd would handle the activities at the new port in Hongtou, about 100km from Ho Chi Minh City. The medium-sized port
is currently being built by Petrovietnam subsidiary PTSE and is slated for completion by year-end.
“Prospects are good in port transportation in Vietnam due to the booming economic growth,” Lim told StarBiz in an interview.
He said that prior to awarding the handling activities at the port, PTSE had a firsthand look at Yinson’s operations at Johor Port, Port of Tanjung Pelepas and West Port.
He said PTSE’s decision was based on Yinson’s capability and expertise in providing a supply chain management in transportation and logistics.
Lim said the main problem faced by ports in Vietnam now was the average waiting time for vessels, which could stretch up to two weeks.
He said the log jam was caused by the inefficiency in cargo clearing.
Lim said the long waiting time at the ports in Vietnam could dampen the country’s economic growth and Yinson Vietnam was looking to reduce it to five days.
He said Hongtou Port would be different from others in that country as it would offer a full range of services. They include trucking, warehousing, shipping, customs clearance as well as sorting of goods and materials.
“Apart from handling transportation activities at the port, we are committed to attracting shipping companies to use the port for import and export,” said Lim.
He said Yinson’s involvement at the new port would pave the way for the company to extend its services to other existing and new ports to be built in Vietnam.
is currently being built by Petrovietnam subsidiary PTSE and is slated for completion by year-end.
“Prospects are good in port transportation in Vietnam due to the booming economic growth,” Lim told StarBiz in an interview.
He said that prior to awarding the handling activities at the port, PTSE had a firsthand look at Yinson’s operations at Johor Port, Port of Tanjung Pelepas and West Port.
He said PTSE’s decision was based on Yinson’s capability and expertise in providing a supply chain management in transportation and logistics.
Lim said the main problem faced by ports in Vietnam now was the average waiting time for vessels, which could stretch up to two weeks.
He said the log jam was caused by the inefficiency in cargo clearing.
Lim said the long waiting time at the ports in Vietnam could dampen the country’s economic growth and Yinson Vietnam was looking to reduce it to five days.
He said Hongtou Port would be different from others in that country as it would offer a full range of services. They include trucking, warehousing, shipping, customs clearance as well as sorting of goods and materials.
“Apart from handling transportation activities at the port, we are committed to attracting shipping companies to use the port for import and export,” said Lim.
He said Yinson’s involvement at the new port would pave the way for the company to extend its services to other existing and new ports to be built in Vietnam.