Vinalines’ General Director Nguyen Canh Viet cited official import/export figures predicting a 10 percent rise in both for 2011. A devalued đồng should also help exports.
Vietnam National Shipping Line (Vinalines) is predicting a strong recovery in the local maritime transport sector in 2011, but said that this would require local shippers to invest in fleet upgrades and establish a name for themselves in global trades. Vinalines’ General Director Nguyen Canh Viet cited official import/export figures predicting a 10 percent rise in both for 2011. A devalued đồng should also help exports. Many of Vietnam’s shipping lines returned to profit in 2010 after a dismal performance in 2009, and have been able to purchase larger, modern vessels.