Vinashinlines fleet sale progresses

 

Hanoi: The Deputy Minister of Transport Nguyen Hong Truong has revealed that 90% of the bankrupt Vinashinlines ships that had been anchored in dreadful conditions at overseas ports have been sold.

The ships sold include New Phoenix, Sea Eagle, Lotus, Cai Lan 4, New Horizon and Diamond Way. 

All of the ships that have been holed up around the world as the line went into bankruptcy will be sold by year-end, the minister avowed. 

Truong said that all the seafarers onboard these ships, most of whom had suffered appalling conditions for years, have been repatriated. 

On the restructuring of Vinalines, which owned Vinashinlines, and is itself in a precarious financial position, Truong said the line is being downsized. The number of Vinalines’ subsidiaries is being reduced from 73 to 37.  [08/10/13]

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