State-owned Vietnam National Shipping Corporation (Vinalines) suffered a VND660bn ($32m) loss in the first half of this year, Seatrade Asia reports.
Analysts attributed the losses to the sharp decline in freight rates, high bunker costs, unfavourable of exchange rates and inadequacies in the mass development of vessel fleets during the time.
Of the VND660bn losses, Vinalines' business accounted for VND507bn, and five businesses transferred from the Vietnam National Shipbuilding Industry Group (Vinashin) took a loss of VND153bn.
The joint ventures between Vinalines, Saigon Port and foreign partners including SP-PSA International Port and Cai Mep International Port (CMIT) also registered a loss of VND400bn.
Analysts attributed the losses to the sharp decline in freight rates, high bunker costs, unfavourable of exchange rates and inadequacies in the mass development of vessel fleets during the time.
Of the VND660bn losses, Vinalines' business accounted for VND507bn, and five businesses transferred from the Vietnam National Shipbuilding Industry Group (Vinashin) took a loss of VND153bn.
The joint ventures between Vinalines, Saigon Port and foreign partners including SP-PSA International Port and Cai Mep International Port (CMIT) also registered a loss of VND400bn.