Pham Thai
Vinaship Joint Stock Company will sell some ships with poor operations to supplement working capital and restructure long-term loans at credit institutions. The enterprise has incurred short-term debt of nearly VND356.8 billion while its short-term assets are just VND120.4 billion.
Earlier, Northern Shipping Joint Stock Company announced to sell Long Bien ship and its barge fleet and return New Phoenix ship to Vinashinlines. From now until the end of the year the enterprise will continue to sell more old ships to balance its production and business scheme, and transfer some ineffective projects.
The enterprise expects to generate revenue of nearly VND371 billion but still incur a loss of VND50 billion this year.
According to the enterprises, the global economic crisis over the past two years has dealt a hammer blow to the shipping industry. Shipping charges and transport demands have declined strongly, seeing revenue and profits of enterprises tumble.
However, an expert in the industry said that shipping charges of some goods have been stable this year while those for shipping rice, coffee and seafood have declined sharply. In contrast, the demand for shipping apparel, footwear and woodworking products has increased.
Another reason for the heavy losses of the enterprises is that they have invested in non-core businesses such as real estate, seaport construction and farm produce trading over the past two years, the expert said.
Đăng ký: VietNam News
