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Vinalines reports a loss of $69.15m in first half of 2012
State-owned Vietnam National Shipping Lines (Vinalines) continued to post losses in the first half of 2012 as freight transportation declined in an overtonnage market. Vinalines recorded a first half net loss of VND1.44trn ($69.15m) while revenue dipped 3% year-on-year to VND11.61trn. The company's total output of freight transportation reached 15.3m tonnes in the first six months, down 15% over the same period last year. Vinalines is currently burdened with some VND43trn of debts and its former chairman Duong Chi Dung is wanted for mismanaging the state-run company. http://www.seatrade-asia.com/news-headlines/vinalines-posts-$69m-net-loss-in-first-half.html
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