SEAPORTS FACE CHALLENGING FORECASTS
Despite reaching better business performance in 2021 so far compared to a problem-strewn previous year, foreign-invested joint venture seaports are facing challenges related to full capacity and container attraction.
VIETNAMESE INVESTORS, CONTRACTORS STRUGGLE DUE TO HIGHER STEEL PRICE
Although local iron and steel prices have dropped, they are still at high rates, up 1.7 times compared to the end of 2020, causing investors and construction contractors to suffer.
SEAPORT DOUBLE H1 PROFITS DESPITE PANDEMIC
According to the Vietnam Maritime Corporation (VIMC), seaports under the corporation’s management handled 67 million tons of cargo in the first half of the year and recorded revenues of more than VND4.5 trillion, a year-on-year increase of 124 percent.
HO CHI MINH CITY PROPOSES 3-MONTH DELAY FOR SEAPORT FEES
Ho Chi Minh City Department of Transport has proposed delaying the collection of seaport infrastructure fees for three months to help businesses weather the COVID-19 storm.
FREIGHT COSTS WEIGH DOWN ON DISRUPTED BUSINESSES
Phan Van Viet, chairman of jeans and khaki producer Viet Thang Jean Co., Ltd. (VitaJean), said that the costs to ship goods in a shipping container have tripled during the global health crisis. The rate for a container from Vietnam to Europe has risen from $3,000 pre-pandemic to $10,000 last month, the highest on record. This has caused several obstacles for VitaJean’s export activities to overseas markets.
SOUTH KOREA OPENS NEW CONTAINER SHIPPING ROUTE TO VIETNAM
South Korea’s opening a new container shipping route to Vietnam will create more favourable conditions for enterprises to increase bilateral export activities.
ESR PLACES RABBIT’S FOOT IN VIETNAM THROUGH LOGISTICS REAL ESTATE JOINT VENTURE WITH BW
ESR Cayman Ltd., the largest logistics real estate platform focused on Asia-Pacific, has set up a joint venture with a leading logistics and industrial real estate operator BW Industrial Development JSC to develop and own My Phuoc 4 Industrial Park in Binh Duong province.
ASIAN GIANTS RETAIN GRIP OF VIETNAMESE LOGISTICS SECTOR
There will be little change in current trends of mergers and acquisitions in Vietnam’s logistics industry this year as domestic players remain sellers and Asian investors continue to gain the upper hand.
