CMA CGM Air Cargo plans to apply for a flight license in Vietnam, reports London's Loadstar
CMA CGM Air Cargo plans to apply for a flight license in Vietnam, reports London's Loadstar. CMA CGM business development vp Patric Bergamini announced the plan at the Asean-EU Business Summit in Brussels.
Mr Bergamini declared CMA CGM was 'committed to continuing to support Vietnam's economic development through the expansion of Gemalink, and with logistics solutions from Ceva Logistics and CMA CGM Air Cargo.'
The French company has invested in Vietnam's seaports since 1994, and holds major stakes in Gemalink Container Terminal at Cai Mep deepwater port, in the south, and the Lach Huyen port in the northern city of Hai Phong.
Gemalink phase two is already underway, as is CMA's investment in a new dry port close to Ho Chi Minh City.
However, it has been a tough market for newcomers to enter in recent years.
For example, IPP Air Cargo has been unable to get off the ground, while Vietjet has struggled to launch freighter operations.
'The Vietnam market is in a downturn as most of the purchase contracts for 2022 from the US and EU are over,' said HLS Air Sea International Logistics.
'Airfreight export volumes in December are higher, but due to huge capacity in the market, airlines are competing with each other by cutting rates.'
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