Having learnt from the disruptions caused due to invasion of Ukraine, the Vietnam Logistics Business Association has moved to acquire its own fleet to run businesses on Asian shipping routes to China, Korea, Japan, Malaysia, India, Singapore and the Middle East. The association said it will need US$1.5 billion to build new ships, purchase old ones, and rent and buy containers for Vietnam’s container vessel fleet.
The move is taken after Vietnam Maritime Administration said the closure of services by major European shipping lines to and from Russia can create opportunities for Vietnamese ship owners to increase their market share in the days to come.
The association said over the next three to five years, it will focus on investing in the shipping sector which will be mobilized mainly from the private sector added by support measures from the government.
Source: container-news.com