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Cutting costs crucial to survival of maritime transport

Cutting costs is critical for the maritime transport sector, which is seeing a slowing down in activities due to the COVID-19 pandemic.
Cutting costs crucial to survival of maritime transport ảnh 1Shipping companies are urged to cut costs and improve efficiency to overcome the difficult time caused by the COVID-19 pandemic. (Photo ndh.vn)

Hanoi (VNS/VNA) -Cutting costs is critical for the maritime transport sector, which is seeing aslowing down in activities due to the COVID-19 pandemic.

According to a report by the VietnamMaritime Administration, the transport of passengers and goods via seaportsduring the pandemic’s peak period saw a fall of 100 percent against the sameperiod last year.

Only two international cruiseships arrived in March. Operators also announced the cancellation of allexpected cruise ships carrying international passengers to ports in Nha Trangand Vung Tau in the second quarter of this year.

Cargo transportation also saw aconsiderable decline in the first quarter of this year, with the volumeequivalent to just 91 percent of the same period in 2019. However, April saw anincrease of four percent in the transported cargo volume.

Nguyen Xuan Sang, Director ofthe Vietnam Maritime Administration, predicted that maritime transport wouldcontinue to face difficulties until the end of this year due to drops in demandfor goods in foreign countries and stagnation of production globally whichcaused falls in both imports and exports.

Maritime transport was seeing aslowdown, but it was time for logistics companies to increase cost savings toimprove efficiency, Sang said.

The Vietnam MaritimeAdministration proposed to the Ministry of Transport to reduce some maritimefees for ships, including docking and mooring fees, and give a three-monthextension of certificates for sailors.

From May 1, the towage andpilot services fees were cut by 10 percent for Vietnam’s ships operatingdomestically to the lowest regulated level to help firms overcome the difficultperiod.

Vietnam Ocean Shipping JointStock Company (Vosco), a leading shipping company in Vietnam, posted a loss of 86.4billion VND (3.7 million USD) in the first quarter of this year, 40.7 billionVND higher than the same period of 2019.

Its revenue also dropped by 76.5billion VND to 347.5 billion VND in the quarter.

Vosco’s Chairman Bui Viet Hoaisaid that shipping companies encountered a lot of difficulties in the firstthree months of this year due to the COVID-19 pandemic.

Hoai forecast that difficultieswould continue in the second quarter as exports to the US and the EU remainedstagnant./.
VNA
#Cutting costs #maritime transport sector #COVID-19 #Vietnam Maritime Administration #Cargo transportation #Vietnam #Vietnamplus #Vietnam News Agency
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