New container route links Ho Chi Minh City, Asia ports
Korean shipping lines HMM, SM Line, and Pan Ocean have launched the first container service under K-Alliance connecting South Korea, China, Vietnam, and Thailand.
The itinerary includes Incheon-Qingdao-Shanghai-Ho Chi Minh City-Laem Chabang-Chiwan-Incheon. The route takes a ship three weeks to complete.
K-Alliance, comspiring HMM, SM Line, Pan Ocean, Sinokor Merchant Marine, and Heung-A, was established in 2020 by the Korean government.
The new service is named CVT, representing China, Vietnam, and Thailand. Vessels used for the service include Sky Rainbow of 1,809 twenty-foot equivalent units (TEUs) from HMM, Jan of 1,708 TEUs from SM Line, and Pos Hochiminh of 1,809 TEUs from Pan Ocean.
In late June, Singapore-based Pacific International Lines (PIL) launched a new weekly direct service connecting key ports in China, South Korea, Thailand, and Vietnam. PIL also calls it CTV, with ports of call including Xingang, Dalian, Incheon, Qingdao, Shanghai, Laem Chabang, HCMC, and Xingang.
- Read More
Former National Assembly General Secretary faces disciplinary action
The Party Central Committee’s Inspection Commission (CIC) has proposed competent authorities consider and take disciplinary action against Bui Van Cuong, who stepped down last week as the National Assembly’s General Secretary.
Politics - Tue, October 29, 2024 | 11:10 pm GMT+7
Indonesia aims to become Southeast Asia's EV production hub
Indonesia is actively seeking to boost investment in a bid to establish itself as a center for electric vehicle (EV) and battery production in Southeast Asia.
Southeast Asia - Tue, October 29, 2024 | 10:38 pm GMT+7
Singapore trials autonomous vehicles on public roads for cargo transportation
Singapore’s FairPrice Group (FPG) recently announced that it has become the first organization in the country to receive approval from the Land Transport Authority (LTA) for the final stages of trials to use autonomous vehicles (AVs) on public roads for cargo transportation.
Southeast Asia - Tue, October 29, 2024 | 10:37 pm GMT+7
Malaysia promotes green energy transition
The Malaysian Government has increased the National Energy Transition Facility Fund allocation to over RM300 million ($60.80 million) in the 2025 budget from only RM100 million this year.
Southeast Asia - Tue, October 29, 2024 | 10:35 pm GMT+7
Singapore spends $270 mln on AI infrastructure, human resources
Singapore’s National Research Foundation (NRF) will allocate $270 million to the National Supercomputing Centre (NSCC) in the next three years to train specialists and develop next-gen supercomputers in order to boost AI through supercomputing talent and infrastructure.
Southeast Asia - Tue, October 29, 2024 | 10:34 pm GMT+7
Vietnam gov’t removes curbs on retail investors in private bond offerings
The Vietnamese government has dropped initially drafted restrictions on retail investors of corporate bonds via private placements in a move to beef up the local stock market after recent financial scandals.
Finance - Tue, October 29, 2024 | 10:16 pm GMT+7
Germany’s PNE seeks Vietnam partners for $4.6 bln offshore wind power project
Germany-based wind energy developer PNE AG is seeking “sustainable partners” in Vietnam to deploy the $4.6 billion Hon Trau offshore wind power project in the central coastal province of Binh Dinh.
Energy - Tue, October 29, 2024 | 6:55 pm GMT+7
E-wallet turned financial assistant MoMo banks on ‘power of small things’: exec
MoMo e-wallet believes in the power of small things, Vietnamese ingenuity, technological advancement, and positive change, says Nguyen Manh Tuong, co-founder, vice chairman of the board, and CEO of MoMo.
Companies - Tue, October 29, 2024 | 6:29 pm GMT+7
Keppel subsidiary M1 buys 70% stake in Vietnamese IT firm ADG for $29 mln
M1 Limited (M1), a telecommunications firm under Singaporean conglomerate Keppel, will acquire a 70% stake in Vietnam-based information technology (IT) solutions provider ADG for SGD37.8 million ($28.5 million).
Companies - Tue, October 29, 2024 | 4:27 pm GMT+7
Vietnam’s Masan MEATLife posts $4.14 million in Q3 after-tax profit
Masan MEATLife (MML), a subsidiary of Vietnamese consumer retail giant Masan Group, recorded net profit after tax and pre-minority interest (NPAT Pre-MI) of VND105 billion ($4.14 million) in the third quarter of 2024.
Companies - Tue, October 29, 2024 | 3:25 pm GMT+7
Vietnam’s PV Gas, Russia’s Zarubezhneft to further core area cooperation
PV Gas, under state-owned Petrovietnam, and Russia’s state-owned Zarubezhneft will further cooperate in oil-gas and energy activities, the former said on Monday.
Energy - Tue, October 29, 2024 | 3:05 pm GMT+7
Vietnam steel major Hoa Phat’s net profit may reach $1 bln with new mill
Hoa Phat Group, which claims to be the biggest steel producer in Vietnam and Southeast Asia, may record a net profit of VND20-25 trillion ($793-991 million) when its new mill in the central region becomes fully operational, according to Vietcombank Securities (VCBS).
Companies - Tue, October 29, 2024 | 2:42 pm GMT+7
IFC plans $200 mln loan to LG Innotek Vietnam
The International Finance Corporation (IFC), the private sector arm of the World Bank Group, plans to make a sustainability-linked loan (SLL) of up to $200 million to LG Innotek Vietnam Haiphong Co., Ltd.
Finance - Tue, October 29, 2024 | 10:11 am GMT+7
Vietnam banks' earnings outlook ‘relatively positive’: PYN Elite Fund
The Q3/2024 earnings growth of Vietnam’s listed companies will likely settle around 20-30% and banks’ earnings outlook for the next 12 months is also relatively positive, said the Finland-based PYN Elite Fund.
Finance - Tue, October 29, 2024 | 9:39 am GMT+7
Chinese e-commerce giant Temu's Vietnam entry: unfair competition or market economy norm?
Vietnam's social media is currently inundated with ads from Temu, the e-commerce platform under China’s PDD Holding, showcasing a diverse array of products – from electronic chips to refrigerator mats – at discounts of up to 90%, and raising concerns about its strategy and compliance.
Opinion - Tue, October 29, 2024 | 7:55 am GMT+7
China’s BYD to repair Apple tablets with $375 mln northern Vietnam project
Chinese giant BYD is set to repair Apple tablets at its factory in Vietnam’s northern province of Phu Tho.
Industries - Mon, October 28, 2024 | 10:27 pm GMT+7