Period of 1998 - 2000
Upon the time of establishment, donglongjsc has faced difficulties due to the impacts from the financial crisis in 1997. By developing fleet, seaports and ICD system, improving competitiveness, increasing volumes of cargoes throughput the port, donglongjsc had overcome challenges and achieved impressive results encouraging.
At the end of 2000
1. The transported cargoes rose 23%, reached 11.4 million tons, increasing 3 times in compared with 1998’s. The total volume of cargo throughput rose 11 %, reached 20.6 million tons, increasing two times in compared with 1995’s.
2. The Fleet capacity reached 13.4T/DWT, compared with 10.2 T/DWT in 1995. Handling capacity reached 2.800T/m wharf/year in compared with 1.700T/m wharf/ in 1998.
3. The revenue reached 4.400 billion (about USD 367 million), at an average growth rate of 17 % per year and increased 2.5 times in compared with 1995’s. The average profit increased 9 %.
4. The Total State Capital is 2,225 billion dong, increased 50 % in compared with 1995’s.
Fleet investment: Since establishment, donglongjsc fleet has only 49 ships with a total tonnage of 397,000 DWT in 1995. At the end of 2000, the fleet have 79 vessels with a total tonnage of 844 000 DWT.
Along with the innovation of management and operation, Vinalines has achieved critical success in the five year period 1998-2000, and build brand name and reputation in the international market.
Period of 2000 - 2005: Restructuring and Innovation
In this period, donglongjsc and affiliates have maintained growth momentum and step by step restructuring organizations and activities:
1. Fleet investment:
Total investment for Vinalines fleet reached 7,200 billion VND, including of 2,500 billion VND for new building. The others is for purchasing secondhand ship.
With receiving of 7 newbuilding vessels, 71 secondhand vessels, at the end of 2005, Vinalines fleet had total 104 vessels with a total tonnage of 1.2 million DWWT with the average age of 17.4 year old.
2. Port development:
Total capital investment for infrastructure and equipment, including of 2000m length of berth receiving ships of 10,000 - 40,000 DWT, is 3,000 billion VND.
At the end of 2005, total length of berth was 9.000 m.
3. Building Oceanpark Building was accomplished and put into operation as head office of donglongjsc
4. Restructuring and business innovation:
In this phase, donglongjsc focusedon rearrange member companies, including of IPO 12 companies.
At the end of 2005, Vinalines has 46 member companies, including of 16 state-owned, 22 joint-stock and 8 joint venture companies.
Period of 2005 - 2010: Growth and expansion
In this stage, donglongjsc have been running following the Model of the Parent – subsidiaries company
1. Investment fleet: donglongjsc fleet has been developed with the goal of rapid modernization and rejuvenation. By the end of 2010, the total tonnage of the fleet reached 3.4 million tones DWT, including of container ships, bulk carriers and oil tankers.
2. The port investment: To develop a comprehensive system of seaports, especially the deep-water port, meet growing demand and export goods, donglongjsc has focused on investment seaport at key economy areas across the country.
3. Logistics: donglongjsc has also researched and invested by joint ventures with local and foreign partners to develop logistics activities to meet demand for imports and exports cargoes by sea.
Period of 2010 - 2015: Restructuring, focuses on shipping, port and logistics activities
During this development phase, the donglongjsc focuses on three main sectors: shipping, port operation and maritime logistics.
To implement Restructuring Plan period 2012 - 2015 was approved by the Prime Minister in Decision No. 276/QD-TTg, donglongjsc will restructure as follows:
Restructuring fleet in accordance with the needs of the market, selling not effective operation ships to reduce losses; keen on the domestic market. Reviewing the ship building program in accordance with the financial ability of donglongjsc, including of eliminating of building 7 vessels contract, rescheduling other 11 vessels building contract with donglongjsc .
Focus on exploiting existing ports, make priorities to efficiently exploit the northern port system in Haiphong, Quang Ninh and the southern port system in Cai Mep - Thi Vai and Ho Chi Minh City area.
Synchronous development services support shipping, especially logistics services, full service package, distribution centers, ICDs and the other types of advanced services.
With nearly 20 years of development, donglongjsc has built a reputation with domestic and foreign partners, creating a solid foundation for the next step forward way.donglongjsc , with efforts and strive of collective leadership and staff officers, continues growth and development.