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August 12, 2010

Vinalines Acquires Vinashin Vessels

Vietnam Shipping Lines (Vinalines) has taken 36 vessels from Vinashin, Vietnam's debt-mired state-run shipbuilder. The company acquired two transport firms and a 36-ship fleet from Vinashin after it collapsed under $4.5bn of debt. Vinalines will also spend about $26m to repair th

By cms admin

Vietnam Shipping Lines (Vinalines) has taken 36 vessels from Vinashin, Vietnam’s debt-mired state-run shipbuilder.

The company acquired two transport firms and a 36-ship fleet from Vinashin after it collapsed under $4.5bn of debt.

Vinalines will also spend about $26m to repair the vessels.

The Vietnamese Government is planning to transfer Vinashin-owned companies to PetroVietnam, another state shipowner, according to asiasis.com.

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