Hanoi: Vietnam’s phalanx of new boxports, already suffering huge losses from underutilisation, are set to take another pummelling with a sizeable chunk of important transhipment volumes from Cambodia set to disappear.
Both Cosco and China Shipping are expected to sign with Sihanoukville Autonomous Port (SAP) shortly to commence direct services from Cambodia to China, a route that hitherto has been transhipped via Vietnam.
Cambodian exporters are also expecting the two Chinese lines to link the kingdom onto some Asia-Europe services.
Cambodia has the strongest political ties with China in Southeast Asia. In 2014, bilateral trade between Cambodia and China stood at $3.77bn. By 2017, the two countries have pledged to boost this to $5bn.
SAP has laid out plans to extend its box handling capacity from 350,000 to 500,000 teu by 2017.