Monday, July 20, 2009

Shipping Set to Increase in Vietnam

New Vietnamese Port set to assist in expansion of trade
Shipping News Feature

VIETNAM - A recently issued report detailing the potential for an increase in Vietnamese shipping traffic has just been released. The report, published by Business Monitor International analyses the potential for a predicted rise in trade of almost 7% in the next four years.

The development of a deepwater port at Khe Ga Cape in Binh Thuan province, costing $250m by Vietnam National Coal- Mineral Industries Group (Vinacomin), would be utilised to import coal, and export aluminium and minerals, with the port able to accept ships of up to 80,000 deadweight tonnes (DWT). According to estimates, the total value of transport and communications GDP will rise to US$6.6bn in nominal terms by 2013, representing 4.5% of Vietnam’s GDP.

The report concludes that, despite the current economic situation, Vietnams economy will rise resulting in an increase in seafreight activity in addition to air freight and road haulage growth.

Readers can purchase a copy of the report here: