Hong Kong port's star status in the alliance universe is on the wane
Hong Kong’s status as one of the world’s premier container gateways and transhipment hubs is ...
Several years after they came to the market, the new deepwater facilities near Vung Tau in Vietnam remain painfully under-utilised, despite growing volumes in the country as it benefits from factories moving from neighbouring China, where costs are rising. Some estimates put the cumulative losses of the new terminals at $1.5bn and rising. The chief problem is overcapacity, both nationally and locally. Every province in the country has plans for a deepsea port, while in the Mekong delta area, which stretches from Vung Tau – known as Cai Mep in port circles – up to Saigon, where there is still a series of shallow, inner-city terminals offering low rates for feeder ships that by-pass Vietnam’s deepsea terminals and make straight for Singapore.
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