Vietnam Maritime Corporation (VIMC) and MSC have taken the next step to realise their ambition of developing a transshipment centre in Can Gio district in Ho Chi Minh City.
The parties have submitted a proposal to Vietnam’s premier, Pham Minh Chinh, whose government is said to be in favour of the development.
Estimated to require funding of US$6 billion, the proposed transshipment would have an annual capacity of 10 to 15 million TEU. MSC reportedly hopes to divert some transhipment cargoes to this facility from Singapore, which is now the world’s largest transhipment port but which is becoming more expensive.
The project will be phased into seven development phases. MSC and VIMC (formerly Vinalines) are said to want to implement begin construction of phase 1 in 2024 and to launch the first phase of the terminal in 2027. The final phase is expected to be ready in 2040.
Vietnamese media said that the proposed major transhipment port will help create a competitive advantage vis-à-vis other countries in the region and achieve a breakthrough in Vietnam’s economic development.
Martina Li
Asia Correspondent
