Seaport enterprises set for promising year in 2022

HÀ NỘI — The seaport industry is expected to continue to grow strongly this year thanks to active import and export activities and the fact that Việt Nam remains an attractive destination for FDI inflows. Higher handling fees will also benefit seaport enterprises. 

Positive outlook

ACB Securities Ltd. (ACBS) said that in  二0 二 二 it was expected that transportation activities will remain stable, with the volume of goods up about  六 per cent.

The volume of goods transported through Vietnamese seaports in  二0 二 二 is forecast to reach  七 五0 million tonnes, up about  三 per cent compared to last year, the securities firm added. 

The industry's growth is driven by the recovery and reopening of the global economy thanks to the higher COVID- 一 九 vaccination rate, helping trading activities.

Việt Nam is still an attractive destination for FDI inflows due to the disruption of the global supply chains and the wave of a production shift. The country also benefits from many free trade agreements.

FDI inflows into Việt Nam recorded a compound growth rate of over  八 per cent in  二0 一 四- 二0 二0, boosting the volume of goods transported through seaports. In  二0 二 一, FDI capital is estimated at US$ 三 一. 一 五 billion, up  九. 二 per cent over  二0 二0. 

In addition, the Ministry of Transport is submitting to the Government a draft amendment to a circular on handling fees at Vietnamese seaports. Handling fees at ports will increase by  一0 per cent in  二0 二 二- 二0 二 四 depending on the port area, resulting in higher profits for seaport enterprises.

However, ACBS also pointed out challenges the industry is likely to face in  二0 二 二, including higher freight rates, which increase short-term risks.

Due to the scarcity of containers and congestion at major ports in the world, freight rates have surged, which reduces the number of goods circulating through seaports. Rising oil prices also push transportation costs higher, reducing shipping demand.

The continuing complexity of the COVID- 一 九 pandemic still badly affects global supply chains, causing lower consumer demand and negatively impacting the workforce in the industry.

Big returns

Despite the developments of COVID- 一 九, Vietnamese seaport enterprises still witnessed outstanding growth in profits last year. 

The fourth quarter business result of Việt Nam National Shipping Lines (VIMC) showed that its profit after tax reached VNĐ 二. 九 trillion in  二0 二 一,  一 四 times higher than that of  二0 二0. 

Its shipping volume was  二 三 million tonnes, reaching  一 二 一 per cent of the plan. After many years of losses, VIMC's shipping sector posted a positive performance in  二0 二 一.

Sixteen VIMC seaports have handled over  一 二 五 million tonnes of goods, up  一 三 per cent compared to  二0 二0.

VIMC's port system has also developed  一 三 new routes for container shipping lines. The sector continues to be the most effective business activity of the company, accounting for  七 八 per cent of total consolidated profit.

Port of Hải Phòng also posted net revenue of VNĐ 二. 二 trillion in  二0 二 一, up  一 二. 五 per cent year-on-year, with profit after tax reaching nearly VNĐ 六 九 四. 六 billion, up more than  二 三 per cent.

Similarly, Saigon Port's net revenue climbed by  四 六. 六 per cent year-on-year to VNĐ 一. 三 七 trillion last year, while its profit after tax attained VNĐ 八 九 三. 四 billion, nearly four times higher than in  二0 二0.

In the last quarter financial statement of  二0 二 一, VIP Greenport saw a gain of nearly  一0 per cent over  二0 二0 to VNĐ 八 一 六. 一 billion in net revenue, resulting in a profit after tax of VNĐ 二0 三. 七 billion, up  三 四. 二 per cent. 

VIP Greenport operates in cargo handling, seaport services, warehousing and coastal freight transport services. 

Analysts from SSI Securities Corporation said that on the stock market, the seaport and logistics stock value grew up to  九 四 per cent in  二0 二 一,  六0 per cent higher than the market benchmark VN-Index. Of which, MVN surged by  二0 五 per cent, SGP up  一 八 三 per cent, PHP jumped  七 二 per cent and VGR up  三0. 七 per cent. — VNS