During the trading session on 12 November, while the VN-Index fell for the fourth consecutive session to 1,244 points, several seaport and shipping stocks such as MVN (VIMC), VOS (Vietnam Shipping), and GMD (Gemadept) maintained upward momentum.
Improvements in import and export demand, especially through inventory replenishment in the US and Europe, as well as the supply, expected to remain stable until 2025, will help seaport firms recover their yields.
Regarding the shipping industry as a whole, Tiên Phong Securities Company believes that the outlook for 2024 will be more positive due to the gradual cooling down of global inflationary pressures and an increase in demand for goods transportation.
The Cửu Long (Mekong) Delta province of Sóc Trăng is stepping up procedures to complete a pre-feasibility study report on the Trần Đề deep-water seaport project to call for investment soon.
Container shipping in Viet Nam and Cambodia had the lowest port turnaround times in ASEAN in June 2022 with both countries scoring averages of 0.9 days, according to the World Bank (WB)’s report.
Concerned businesses and associations have repeatedly suggested that the collection of seaport infrastructure fees for goods transported by inland waterways was unreasonable and not to the right subjects.
Quang Ninh has emerged as a new manufacturing hub in northern Viet Nam by transforming its rural tourism-based economy and industrialising to attract foreign investments, especially in the tech sector, experts said.
Seven business associations have called on HCM City to defer the imposition of and reduce port infrastructure and service fees saying businesses have not yet fully recovered from the effects of the COVID-19 pandemic.