World’s largest shipping line eyes investment in Ho Chi Minh City international port
Tuesday, March 19, 2024, 15:41 GMT+7
Switzerland-headquartered Mediterranean Shipping Company (MSC), the world’s largest shipping line, has a plan to invest in the Can Gio international transshipment port project in the eponymous outlying district of Ho Chi Minh City and to shift part of its transshipment operation to Vietnam.
MSC is capable of transporting over 23 million TEUs per year and currently accounts for 18 percent of the capacity of the world’s fleets.
Its services are connected to some 500 seaports worldwide.
In Vietnam, the shipping line has been operating in container ports in Hai Phong City in the north, Da Nang City in the central region, and Ba Ria-Vung Tau Province in the south.
MSC’s fleet annually transports more than one million TEUs of cargo between Vietnam and large markets, such as the U.S., Europe, China, Japan, Australia, and Southeast Asia.
It plans to further develop its network in Asia.
MSC looks to shift part of its transshipment activities to Vietnam and establish a transshipment center in the country.
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| An artist’s impression of the Can Gio international transshipment port project in the namesake outlying district of Ho Chi Minh City. Photo: Porcoast |
Designed to cover an area of 571 hectares, the Can Gio international transshipment port will be 7.2 kilometers long and have 6.8 kilometers of wharves upon completion.
The project is estimated to cost over VND124 trillion (US$5 billion).
The port will be capable of receiving mother ships up to 250,000 deadweight tonnage (DWT), feeder ships with a tonnage of 10,000-65,000 DWT, and barges up to 8,000 metric tons.
The volume of cargo transported through the Can Gio international transshipment port is expected to reach 4.8 million TEUs by 2030 and 16.9 million TEUs by 2047.
Ho Chi Minh City will prepare for the development of the port until 2024, construct it from 2024 to 2026, and put it into operation in 2027.
The Can Gio international transshipment port, when in place, will create jobs for some 6,000-8,000 laborers on the spot and tens of thousands of employees in logistics services, while contributing VND34-40 trillion ($1.4-1.6 billion) to the state budget per year.
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