Vietnam’s southern logistics sector is poised for a major boost as local and international players ramp up investment in port infrastructure.
Japan’s Mitsui E&S Co., Ltd. confirmed on August 4 it has secured an order to supply 22 container cranes to PetroVietnam Phuoc An Port Investment and Operation JSC (PAP). This marks the largest crane order ever placed in Vietnam and a milestone deal for both Mitsui E&S and PAP, a state-backed company developing a key port in the region.
PAP is playing a growing role in meeting rising trade demand in southern Vietnam. It has also joined forces with Saigon Newport Corporation, the country’s largest terminal operator, to strengthen logistics links and enhance regional port connectivity.
Phuoc An Port is being developed by PAP as the first and largest container terminal in Dong Nai. It welcomed the first container ship from one of the world’s largest shipping company, Mediterranean Shipping Company (MSC), in February.
Thirteen container cranes made by Mitsui E&S are already in operation at Phuoc An Port, and with this order, accumulated orders for cranes from PAP will total 56 units, including the five units of Mitsui-Paceco Portainer and 16 units of Mitsui-Paceco Transtainer ordered in July 2024, contributing to a further increase in PAP’s container handling capacity.
Mitsui E&S has delivered more than 170 units of container cranes to Vietnam over the past 10 years, achieving the largest market share in the country. The Japanese company will contribute to economic development through port infrastructure development to meet international marine logistics demand in Southeast Asian markets, where strong demand for cranes is expected.
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Ports poised for more growth amid ferocious competition
Marine transportation is currently navigating turbulent times. Patrick Lenain, senior associate at the Council on Economic Policies, notes how Vietnam’s ports are ready for progress amid the fierce competition.
AloJapan.com