Europe

Cargolux expands services in Vietnam

Cargolux

Responding to shippers’ demand for additional air freight space, Cargolux will expand its cargo services to Vietnam with the introduction of a second weekly flight to Ho Chi Minh City and a fourth frequency to Hanoi.

The new flight is scheduled to start on 2nd of December and operates every Tuesday, leaving Luxembourg at 05.05 with arrival in Ho Chi Minh City at 19.20 and Hanoi at 22.55 (all times GMT). The return flight arrives back in Luxembourg at 14.05 on Wednesday.

Cargolux has served the Vietnam market since 2007, carrying a wide variety of cargo. Cargolux customers forecast substantial increases in volumes for next year. Cargolux also sees an increase in electronic shipments as Vietnam boosts its exports by air.

Samsung, the biggest investor in Northern Vietnam, is building up its Vietnamese production of LCD monitors during the first quarter of 2015 in Ho Chi Minh City. Samsung already operates factories in the Bac Ninh province since 2009 and at Thai Nguyen since 2013. Microsoft has, after it acquired Nokia, transferred production lines from a number of countries to Vietnam and will operate 39 production lines of smart phones in that country by 2015 with an estimated export volume of up to 50,000 tonnes annually. LG Electronics is investing US$ 1.5 billion in a new production facility for smart phones at Hai Phong City. The company already manufactures electronic goods such as televisions, refrigerators and air conditioning units in Vietnam.

Cargolux has a well-established network and presence in the Vietnam markets and its customers have responded with positive outlooks for 2015. Cargolux echoes the positive outlook for Vietnam and remains well placed to provide the services required by both its present and future customers.

Approximately 48% of all exports from Hanoi are destined for Europe and the US, while 33% go to Asian destinations. Ho Chi Minh City exports 50.5% to Europe and the US. The Vietnam Transport Ministry expects air cargo shipments to grow by as much as 23% in 2014 while industry experts say the country’s exports will be about 80 per cent of its gross domestic product this year after total exports rose 13.4 per cent from a year earlier to US$123 billion in the 10 months through October 2014.

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