The signing ceremony to establish the joint venture of the Tan Cang - Cai Mep towage services company ltd (24/04/2010)

On April 21st 2010, at the Headquarters of SNP, SAIGON NEWPORT CORPORATION (SNP), MITSUI O.S.K. LINES LTD (Japan) and HAI VAN SHIPPING-SERVICES CORPORATION (HVS) signed the Joint venture contract and charter to establish the Tan Cang - Cai Mep Towage Services Company Limited (TCTS). The chartered capital of the JV company is USD 4,5 million. The SNP contributes 20% to TCTS, MOL and HVS each contributes 40%. The scope of business of the Company shall include towage services in seaport waters and supplementary services of coastal and off-shore towing and salvage. In the initial stage, TCTS shall operate two tugboats each of which has the capacity of 4,000 HP and shall provide the towage services to the vessels coming to/from the deep sea terminals in Thi Vai- Cai Mep.
In the speech delivered at the Ceremony, Mr. Takehiko Yamamoto, Member of Board, Senior Managing Executive Officer of MOL stressed “ The joint venture between a big terminal operator of Vietnam, a big shipping line and an experienced tugboat company is the basis for the success of the company in the future”. As a world ocean carrier, MOL also has its subsidiary being specialized in providing the towage services for over 40 years. MOL has established the towage joint ventures in Hong Kong and China and this is the third oversea towage joint venture of MOL. MOL is also one of the first carrier having its mother vessel called at the Tan Cang- Cai Mep deep sea terminal and deploying the direct transport service from Vietnam to the US West Coast.