Cai Mep - Thi Vai channel will be expanded 310 - 350 m, 14 - 15.5 m deep in order to improve the exploitation efficiency of the port cluster and welcome large ships.
According to the Maritime Project Management Board, Ministry of Transport, Cai Mep - Thi Vai channel is expected to start construction by the end of this year, with a total investment of about 1,420 billion VND. In which, in the period of 2021-2025, about 1,278 billion VND will be allocated.
After more than 11 years of dredging, with a bottom of 310 m wide and a depth of 12-14 m, international ships carrying capacity from over 8,000 TEU (1 TEU = 20 feet container) can only take advantage of the rising tide or to reduce the load to dock at Cai Mep - Thi Vai ports.
The project aims to improve exploitation efficiency, form and develop a cluster of international gateway ports, attracting goods in the region.
Accordingly, the channel section 30.5 km from buoy No.0 to upstream Cai Mep international container port (CMIT) bottom width 350 m, depth 15.5 m for ships of 160,000 tons (allowing to avoid each other with ships up to 50,000 tons); ships of 120,000 tons operate in two-way operations and ships of 200,000 tons/18,000 TEU reduce their load or are larger for one-way operations.
The 3.2 km section of the channel from Cai Mep international container port to Tan Cang - Cai Mep port (TCIT and TCCT) is widened to 310 m bottom, 14 m deep, for ships of 120,000 tons (allowing to avoid each other with ships of 60,000 tons); ships of 100,000 tons operate in two ways and ships of 160,000 tons with reduced load or larger operate in one way.
The channel section from Tan Cang - Cai Mep to Phuoc An starting port is for ships of 60,000 tons or larger for one-way operation.
By the end of 2020, Cai Mep - Thi Vai has 7 container ports that have been put into operation, with a designed capacity of 6.8 million TEUs a year and is the first port in Vietnam to welcome ships of more than 214,000 tons. According to the master plan on development of Vietnam's seaports in the period of 2021-2030, with a vision to 2050, Cai Mep - Thi Vai is specially ranked and is focused on developing to become an international transshipment port.
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Company T (Plaintiff – the Insured) entered into an insurance contract with Company B (Defendant – the Insurer). After the insured event occurred, the Insurer alleged that the Insured had violated its obligation to prevent and mitigate losses. The Arbitral Tribunal acknowledged that such an obligation exists but concluded that the Insured did not breach it.
Under the insurance contract, the premium was to be paid in three installments, and in all three, the insured party was late in payment. When a dispute arose, the insurer (Defendant) argued that the insurance contract had terminated before the insured event occurred due to the late premium payment and therefore refused to make an insurance payout. However, the Arbitral Tribunal held a contrary view.
