Seatrade-Maritime: MSC joins jv to develop Ho Chi Minh transhipment port

Ho Chi Minh City has approved a consortium of Vietnam Maritime Corporation, Saigon Port Joint Stock Company, and Terminal Investment Limited Holding S.A. (TIL) — the port subsidiary of global container shipping line MSC — to develop the Can Gio International transhipment Port project.

TIL is set to contribute 49% of the project, which will develop a port that spans nearly 571 hectares, with a planned main berth length of around 7.5 km. By 2030, the port is expected to handle 4.8m teu annually, with a projected capacity of 16.9m teu by 2047.

Once completed, the Can Gio port is expected to become a major international transhipment hub, enhancing Vietnam’s position in global logistics chains. The $4.9bn project was first developed in 2022.

With the volume of goods through Ho Chi Minh City’s seaports expected to increase by 5% in the 2021-25 period, the new container port is necessary to meet the current and future import-export needs of Ho Chi Minh City and the wider region, said Vietnamese media.

The port will feature between two and four terminals, with a total quay length ranging from 1-2 km by 2030. The facilities will be capable of accommodating ultra-large container vessels of up to around 250,000 dwt and 24,000 teu. Its throughput capacity is estimated at 22.8m to 57m tonnes of cargo, or 2.4m to 4.8m teu.

By 2050, the port is projected to expand to some 13 terminals, meeting rising demand for international container transhipment and supporting long-term cargo growth.

The total investment in the project stands at $4.9bn, with the investors responsible for mobilising and ensuring sufficient capital. The municipal administration has asked the investors to strictly comply with the investment policy approved by the prime minister on January 16. The new port must balance international transhipment and import-export goods for Vietnam, all without disrupting operations at nearby ports. 

Investors are unable to transfer the project within 10 years of the land and water allocation, are required to disburse at least $1.9bn within the first decade, and complete construction within 20 years.

In Vietnam, MSC already maintains routes linking key container ports in Hai Phong City, northern Vietnam, Da Nang City in central Vietnam, and Cai Mep-Thi Vai in southern Vietnam. The shipping company transports over 1m teus of Vietnam’s import-export cargo annually.