Vietnam National Shipping Lines surpasses all targets in 2018

The figures are equal to 113% and 101.6% of the set targets, respectively, said Vinalines Acting General Director Nguyen Canh Tinh at a working session with Chairman of the Committee for Management of State Capital at Enterprises (CMSC) Nguyen Hoang Anh in Hanoi on December 21.

In the year, the output of goods through ports hit nearly 98 million tonnes, meeting the set goal, while pre-tax profits reached VND348 billion (US$14.8 million) – a positive result thanks to efforts to step up financial restructuring and asset settlement, strictly monitor business and production activities, and develop consumers, Tinh shared, adding that loss by maritime transport had been cut down by 70%.

Next year, Vinalines set targets of 18 million tonnes of goods transported by sea, 107 million tonnes of goods handled at its ports, VND12.7 trillion in revenue and over VND710 billion of pre-tax profit, he stated.

He also suggested enhancing connectivity between enterprises managed by the CMSC in investment, business administration, IT application, and in using each other’s services.

Anh reminded that Vinalines should build its business plan in line with the committee’s general plan, and define its position in the country’s Sea-based Economic Development Strategy.

Vinalines, founded in 1995, is a fully State-owned enterprise. It was transformed into a holding company in 2006 and a State-owned one member limited company in 2010. The corporation has made various restructuring steps to improve its business results after several years of sharply falling profits.

The CMSC, established by the Government, debuted late September.

It is managing 19 State-owned economic groups and corporations. According to consolidated financial statements by December 31, 2017, the total value of the State equity at these 19 firms topped VND1 quadrillion (US$43 billion) and total asset value was VND2.3 quadrillion.