CMIT Welcomes Vietnam PM

 

CMIT is a joint venture between APM Terminals, which holds a 49% share, Vietnam National Shipping Lines, with a 36% share, and Saigon Port, with a 15% share. 

 

Prime Minister Phuc was welcomed by CMIT acting Managing director Nguyen Xuan Ky, who expressed the facility’s appreciation to the Vietnamese national and provincial governments, and the Vietnamese Ministry of Transport for supporting policies which have led to the success of the deep-water port complex.

 

Located in Vietnam’s Ba Ria‐Vung Tau Province, southeast of Ho Chi Minh City, formerly known as Saigon, CMIT is currently the only terminal in Vietnam capable of accommodating larger, deep-draft vessels. In February the terminal handled a successful a trial call by the 18,300 TEU Triple E-Class Margarethe Maersk. 

 

CMIT handled 1.21 million TEUs in 2016, reflecting a throughput increase of approximately 70% over 2015’s container throughput. 

 

Discussions with the Prime Minister included plans to dredge the Cai Mep channel to 15.5 meters, the improvement of road and railway connections to interior points from the port complex, and cooperation with other Cai Mep-area terminals to create a global transshipment hub.

 

Vietnamese ports handled a combined 11.2 million TEUs in 2016, representing an annual growth rate of 6%. Saigon Port area facilities handled 5.6 million TEUs last year, and now rank 24th globally by industry analysts Alphaliner. Vietnam has been among the fastest-growing economies in Asia, expanding by 6.1% in 2016, with the IMF projecting GDP growth of 6.5% for 2017.