Vietnam line to offload stake in port services firm

Vietnam National Shipping Lines (Vinalines) plans to sell its 21.8 percent stake in Vietnam Container Shipping JSC, a provider of marine port services within the next three months, according to Vietnam News Brief Service.

The move is aimed to re-restructure its capital sources.

Vinalines, the largest state-owned shipping and port operator in the country, has finished a sale of US$51.32 million worth of unsecured corporate bonds in the domestic market.

Vinalines made a pretax profit of $35.31 million million in the first half of this year, up 146 percent from a year earlier.
(Source:www.cargonewsasia.com)