It is reported that Mitsui OSK Lines has received approval from the government of Vietnam to establish a new joint terminal operation company Tan Cang Cai Mep International Terminal Company Limited. MOL said that the new company will operate the Tan Cang Cai Mep International Terminal slated to open in February 2011.

The new terminal is located in the Cai Mep region in southern Vietnam and can accommodate box ships with capacity for up to 8,000 TEUs, with a total wharf length of 590 metres for two berths.

Aside from MOL, TCIT's other JV owners include South Korea's Hanjin Shipping, Taiwan's Wan Hai Lines and Vietnamese company Saigon Newport.

Mr Masakazu Yakushiji EVP said that MOL said that "We are very pleased to announce TCIT has received Investment Certificate from the Vietnamese Government. We are now working hard to establish the most efficient container terminal in Cai Mep. I strongly believe the operation of this new terminal will strengthen our position in South East Asia."

APM Terminals and Vinalines already have a partnership in Cai Mep International Container Terminal in southern Vietnam, building a 1.1 million TEU port near Ho Chi Minh City, slated for opening in the fourth quarter of 2010.

(Sourced from www.portworld.com)