Recently, a consortium led by Vietnam National Shipping Lines (VIMC) and TiL—a terminal operator owned by Mediterranean Shipping Company (MSC)—officially secured the development rights for the Can Gio International Container Transshipment Port.

For those following logistics in Southeast Asia, this may come as “expected, yet significant” news.

The project is located approximately 10 kilometers southwest of Gaimé Port and boasts excellent natural water depth, capable of accommodating today’s largest 24,000-TEU container ships.

The key is that it doesn’t rely on local cargo to sustain operations, but instead focuses exclusively on international transshipment—in other words, the goal is to attract “transit vessels” passing through Southeast Asia to stop here and transfer cargo.

The plan is clear: covering 570 hectares, the project will initially build four berths, eventually expanding to 13, with the waterfront stretching to 7.5 kilometers. By 2030, the target annual throughput is 4.8 million TEU; by 2047, it will surge to 16.9 million TEU.

For context, Vietnam’s total port throughput for 2023 was just over 20 million TEUs.

The equity structure is as follows: TiL holds 49%, VIMC holds 36%, and its subsidiary Saigon Port (SGP) holds 15%. The Vietnamese side has also established a “lock-up period”—shares cannot be transferred for 10 years—and requires a minimum investment of $2 billion over the first decade.

MSC’s role, however, extends far beyond that of a financial investor. As a global liner giant, its route network itself serves as the most efficient “traffic generator.”

Some have quipped: “While others worry about finding ships to berth at their new terminals, MSC builds a terminal and the ships are already lining up.”

The project is scheduled to break ground this April, in tandem with the expansion of Cai Mep Port.