Container trucks waiting to unload at Cat Lai Port in HCM City. (Photo: VNA) ACB Securities Ltd. (ACBS) said that in 2022 it was expected thattransportation activities will remain stable, with the volume ofgoods up about 6 percent.
The volume of goods transported through Vietnamese seaports in 2022 is forecastto reach 750 million tonnes, up about 3 percent compared to last year, thesecurities firm added.
The industry's growth is driven by the recovery and reopening of the globaleconomy thanks to the higher COVID-19 vaccination rate, helping tradingactivities.
Vietnam is still an attractive destination for FDI inflows due to thedisruption of the global supply chains and the wave of a production shift. Thecountry also benefits from many free trade agreements.
FDI inflows into Vietnam recorded a compound growth rate of over 8 percent in2014-2020, boosting the volume of goods transported through seaports. In 2021,FDI capital is estimated at 31.15 billion USD, up 9.2 percent over 2020.
In addition, the Ministry of Transport is submitting to the Government a draftamendment to a circular on handling fees at Vietnamese seaports. Handling feesat ports will increase by 10 percent in 2022-2024 depending on the port area,resulting in higher profits for seaport enterprises.
However, ACBS also pointed out challenges the industry is likely toface in 2022, including higher freight rates, which increase short-termrisks.
Due to the scarcity of containers and congestion at major ports in the world,freight rates have surged, which reduces the number of goods circulatingthrough seaports. Rising oil prices also push transportation costs higher,reducing shipping demand.
The continuing complexity of the COVID-19 pandemic still badly affects globalsupply chains, causing lower consumer demand and negatively impacting theworkforce in the industry.
Despite the developments of COVID-19, Vietnamese seaport enterprises stillwitnessed outstanding growth in profits last year.
The fourth quarter business result of the Vietnam NationalShipping Lines (VIMC) showed that its profit after tax reached 2.9 trillion VNDin 2021, 14 times higher than that of 2020.
Its shipping volume was 23 million tonnes, reaching 121 percent of the plan.After many years of losses, VIMC's shipping sector posted a positiveperformance in 2021.
Sixteen VIMC seaports have handled over 125 million tonnes of goods, up 13 percentcompared to 2020.
VIMC's port system has also developed 13 new routes for container shippinglines. The sector continues to be the most effective business activity of thecompany, accounting for 78 percent of total consolidated profit.
Hai Phong Port also posted net revenue of 2.2 trillion VND in 2021, up12.5 percent year-on-year, with profit after tax reaching nearly 694.6 billionVND, up more than 23 percent.
Similarly, Saigon Port's net revenue climbed by 46.6 percent year-on-year to 1.37trillion VND last year, while its profit after tax attained 893.4 billion VND,nearly four times higher than in 2020.
In the last quarter financial statement of 2021, VIP Greenport saw a gainof nearly 10 percent over 2020 to 816.1 billion VND in net revenue, resultingin a profit after tax of 203.7 billion VND, up 34.2 percent.
VIP Greenport operates in cargo handling, seaport services, warehousing andcoastal freight transport services.
Analysts from SSI Securities Corporation said that on the stock market, theseaport and logistics stock value grew up to 94 percent in 2021, 60 percenthigher than the market benchmark VN-Index. Of which, MVN surged by 205 percent,SGP up 183 percent, PHP jumped 72 percent and VGR up 30.7 percent./.
VNA
