Duong Chi Dung, head of Vietnam Maritime Administration and former chairman of Vinalines Container Shipping Company, was wanted by police on May 18, on charges of intentionally violating State regulations on economic matters resulting in serious consequences.
On the same day, a representative from the Ministry of Public Security said that police also arrested Mai Van Phuc, deputy head of the Transport Administration and former director-general of Vinalines, along with Tran Huu Chieu, former deputy director-general of Vinalines.
Vinalines is the largest state-owned shipping and port operator in Vietnam, and is currently faced with five default loans of upto VND23.06 trillion (US$1.1 billion).
The company was also found to have purchased 73 foreign vessels, mostly secondhand, at a cost of VND23 trillion. Of these, 17 vessels were around 15 to 30 years old, incurring a huge expense in repairs and maintenance.