MOL enters tugboat business in Vietnam

Mitsui OSK Lines has established a joint venture with two local companies and started a tugboat business to serve vessels calling at ports in the Cai Mep / Thi Vai areas.

MOL’s partners in the joint company – Tan Cang-Cai Mep Towage Services (TCTS) – are Saigon Newport Corporation (Vietnam) and Haivan Shipping-Services Corporation (Vietnam).

In response to tremendous economic growth in South Vietnam, deepwater container terminals have been constructed to serve Vietnam’s Cai Mep/Thi Vai areas, and the number of large vessels calling at the ports will continue to increase.

The Cai Mep / Thi Vai River watershed in Ba Ria-Vung Tau Province is about 50 km southeast of Ho Chi Minh City. Three deepwater terminals are already open, and another container terminal, bulk terminals and other facilities will be open in the future.

Saigon Newport Corp (Vietnam)is a national company under the umbrella of Vietnam’s Ministry of Defence and naval forces. It operates a new large deepwater container terminal in the Cai Mep area, and, in the area adjacent to that terminal, the company will open another new container terminal together with MOL and other shipping companies.