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Vietnam needs $14 bn to develop seaport system by 2030: Govt
The ministry is responsible for the detailed plan for seaports, ports, wharves, buoys, water areas and water regions between 2021 and 2030, with a vision till 2050.
Vietnam will need over $14 billion to develop its seaport system by 2030.
That would include several new projects in the central Gia Lai province.
Under a new government plan, the investment capital demand for the seaport system is an estimated $13.67 billion by 2030, $2.77 billion out of which is for public maritime infrastructure, and the rest $10.9 billion is for ports offering cargo handling services.
Under the new plan, the investment capital demand for the country’s entire seaport system is estimated at 359.5 trillion VND ($13.67 billion) by 2030, 72.8 trillion VND ($2.77 billion) out of which is allocated for public maritime infrastructure, and the remaining 286.7 trillion VND ($10.9 billion) is for ports providing cargo handling services, a domestic news agency reported.
The total demand for seaport land nationwide by 2030 is approximately 34,000 hectares, of which 17,500 hectares are designated for seaports, with the remainder allocated for industrial parks and logistics associated with ports.
The demand for water surface is about 606,000 hectares, excluding 900,000 hectares of managed water areas without maritime works.
As per the new plan, the seaport system of Gia Lai province alone is expected to handle 17.65-18.75 million tonnes of goods per year by 2030, including 0.32-0.37 million TEU in containers and 150,000-200,000 passengers. The system will comprise nine ports and 20 wharves, with a total quay length of 5,104 metres.
The total land use demand for Gia Lai seaports by 2030 is approximately 217.3 hectares, excluding the area allocated for industrial parks and logistics. The investment capital demand for this system is about 11.87 trillion VND, of which 1.25 trillion VND is for public maritime infrastructure, and 10.62 trillion VND is for ports providing loading and unloading services.
Fibre2Fashion News Desk (DS)
According to the Drewry WCI index, the spot rates from Shanghai to New York and Los Angeles decreased by 3 per cent to $3,552 and $2,810, respectively, per 40-foot container. As per Drewry’s Container Capacity Insight, 9 blank sailings have been announced on the Transpacific trade route for next week to maintain capacity. A few carriers have announced a Peak Season Surcharge (PSS) of around $2,000 per 40ft container, effective May 1. Drewry expects freight rates to remain relatively stable in the coming weeks before the implementation of the announced PSS.
Drewry WCI snapped a six-week rally, falling 2.72 per cent to $2,246 per FEU amid easing freight rates.
Declines on Asia–Europe and Transpacific routes drove the drop, though carriers plan PSS hikes from May.
Despite Middle East tensions, rates are expected to remain relatively stable, with capacity shifts and blank sailings influencing movements.
Spot rates on the Shanghai–Rotterdam trade route decreased 3 per cent to $2,229 per 40ft container, while rates on Shanghai–Genoa fell 2 per cent to $3,343 per 40ft container. Carriers are increasing effective capacity on this trade route, with only one blank sailing announced so far. Meanwhile, ZIM has announced a new bunker factor (NBF) of $850 per container, effective May 1, but for now Drewry expects freight rates to remain stable in the coming week.
Rates from New York to Rotterdam decreased 4 per cent to $1,022 per FEU, while Rotterdam to New York increased 3 per cent to $2,030 per FEU. Rotterdam-Shanghai rose 1 per cent to $599 per FEU, and Los Angeles–Shanghai steadied at $762 per 40-foot container.
The US-led naval blockade around the Strait of Hormuz has halted or restricted ships linked to Iran, with multiple vessels turned back. The disruption has strongly impacted global oil supply chains and pushed oil prices even higher. If ongoing negotiations fail, shippers should prepare for reduced schedule reliability, potential port omissions, longer lead times and upwards pressure on freight rates.
Fibre2Fashion News Desk (KUL)
The country has ensured import of refined fuel from alternative sources despite the global situation, and there will be no adverse impact on oil supply due to ERL’s low feed operations, Energy Division joint secretary Monir Hossain Chowdhury was cited as saying by domestic media outlets.
Bangladesh’s Energy Division recently said the capacity of Eastern Refinery Limited (ERL) would affect little the fuel supply system as the unit contributes only a fifth of the country’s petroleum supply system while the rest is imported in refined form.
It has ensured import of refined fuel from alternative sources, and there will be no adverse impact on oil supply due to ERL’s low feed operations.
The facility is now operating two of its four units to refine oils with ‘dead stocks’ and is expected to make two other units operational again, he said. The process to import crude is under way.
Chowdhury said production slowdowns at two ERL units due to crude oil shortages would not disrupt the nation’s fuel supply as over 255,000 metric tonnes of refined fuel is in stock now.
The Strait of Hormuz has been almost closed since February 28 preventing scheduled arrival of 2,00,000 metric tonnes of crude oil to Bangladesh during that period, he noted.
A ship carrying 100,000 tonnes of crude was supposed to arrive from Saudi Arabia in March, but is currently stuck at Rastanura Port as it could not cross the Hormuz Strait, he informed reporters at a press conference. Another ship from the United Arab Emirates (UAE) also met the same fate.
A third ship carrying 100,000 tonnes of Arabian light crude is scheduled to depart from the UAE on April 20 and expected to reach Chattogram via an alternative route on May 2 or 3, he said.
The government has also requested Saudi Arabia to provide another 100,000 tonnes of crude oil in May, he added.
A work order has been issued with the approval of the cabinet to import 100,000 tonnes of crude oil through direct purchase to meet urgent needs.
Fibre2Fashion News Desk (DS)
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