Hanoi edict to bar foreign-flagged boxships on domestic routes

Hanoi: As the nation struggles with overcapacity Vietnam has said that from January 1 next year all boxships on domestic routes must fly the Vietnamese flag. The move will see around 20 foreign flagged ships equating to 500,000 dwt barred. The local shipowners association has been beseeching Hanoi to help out in the downturn, with a number of Vietnamese vessels laid up and others sold, and this is the first move in what some believe could be a series of government-led shipping initiatives. “It’s crisis time, and this protectionist move is akin to the Jones Act in America, and what China does on its rivers,” one analyst told SeaShip News.   [04/12/12]

Related Posts