Sea transport firms are going through a tough time as weak demand has begun to hamper maritime trade and freight rates are expected to fall towards Q1/2023.
Sea freight rates are expected to fall in the second half of 2022, but at a glacial pace, allowing transport firms to reap high profits for another six months.
The retail prices of oil and petrol continued to rise from May 11 following the latest adjustment by the Ministry of Industry and Trade and Ministry of Finance.
The HCM City Department of Transport held a meeting with related departments on October 2 to discuss support measures for transport companies affected by Covid-19.
Online transport services that connect inter-provincial transport companies have reduced costs and helped reduce pollution by having fewer trucks on the road.
Viet Nam''s sea transport industry needed restructuring to become more
competitive, said head of the Transport Ministry''s Marine Department,
Nguyen Nhat.
The petrol price has fallen fourfold by a total of VND1,900 per litres
but consumer goods remain unchanged, partly caused by higher
transportation fees, Tin tuc (News) newspaper reported yesterday.
Many transport firms are planning to adjust their freight and ticket
rates after the petrol price was hiked by VND584 (2.78 cent) to
VND24,214 ($1.15) per litre on Wednesday.