Cai Mep International Terminal Container Volume Doubles

Throughput at Cai Mep International Terminal, the APM Terminals facility in Vietnam’s Ba Ria‚ÄźVung Tau province, southeast of Ho Chi Minh City, expanded by 130 percent in the first quarter as new service calls added in 2015 began to impact volumes. The container volume has surged by 130% to 277,303 TEUs for the first three months of 2016, as compared with the same period a year ago. This growth follows an 80% expansion in container traffic at CMIT in 2015 over the year prior, to 724,768 TEUs.

Vietnam’s economy is one of the fastest-growing in Asia, with the International Monetary Fund’s April Regional Survey projecting the Vietnamese economy to expand by 6.3% in 2016 and 6.2% in 2017, compared with forecasted growth rates of 6.5% and 6.2% respectively, for China.

In August of 2015, the European Union and Vietnam signed the principles of a Free Trade Agreement which will eliminate tariffs, and open Vietnamese markets to EU food products, as well as reduce non-tariff barriers to EU exports, and open Vietnam to European service providers, including maritime transportation. Vietnam is also a party to the Trans-Pacific Partnership, which includes the USA, Canada, Mexico, Japan, Singapore, Malaysia, Brunei, Australia, New Zealand, Chile, and Peru as signatories.

Vietnamese ports handled a combined 10.6 million TEUs in 2015, representing an annual growth rate of 16% over 2014. Of this volume, 7.2 million TEUs were handled by Saigon area facilities, accounting for more than two thirds (68%) of the country’s total container throughput.

(MarineLink)