Vietnam National Shipping Lines earns VND2,502 billion in profit in the first 9 months of 2024
Most of the key business indicators of Vietnam National Shipping Lines (VIMC) in the first 9 months of 2024 have reached or exceeded the same period last year.
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| Operation activities at Tan Vu Port Branch (Hai Phong Port) on September 13, 2024. |
Accordingly, VIMC's consolidated revenue by the end of September 2024 is estimated at VND 13,592 billion, equal to 135% of the same period last year and 101% of the 9-month plan; consolidated pre-tax profit is estimated at VND 2,502 billion, equal to 157% of the same period last year and 92% of the 9-month plan.
Of which, the parent company achieved revenue of VND 2,372 billion, equal to 157% of the same period last year and 98% of the 9-month plan; pre-tax profit reached VND 1,402 billion, equal to 454% of the same period and 150% of the plan for the first 9 months of the year.
Also in the first 9 months of the year, the total transport output of the Corporation reached 13.5 million tons; the output of goods through the port reached 109.4 million tons.
According to VIMC's assessment, in the first 9 months of 2024, the bulk shipping market has been unstable. The BDI index has fluctuated continuously between 1,800 and 2,300 points due to unstable demand for bulk cargo in China, America, and India.
The market is mainly driven by the Capesixe size while smaller segments such as Supramax and Handysize have remained stable in recent months thanks to increased demand in the Asia and Americas regions.
The BAIT Product Tanker Index has been in decline in recent months, hovering between 580 and 620 points. However, tanker freight rates remain higher than last year due to stable market demand, supply chain disruptions, and limited vessel availability.
For the container shipping market, after a decline in the first months of the year, the World Container Index (WCI) has recovered well since May.
The market has been developing positively, freight rates have increased compared to the same period last year mainly due to the complicated developments of the conflict in the Red Sea, congestion at major ports in the world, and recovering consumer demand in the US and European markets...
However, in recent times, average freight rates have been falling continuously since mid-July as shipping lines have gradually adapted to rerouting, congestion at major ports around the world has gradually improved, demand and the number of newly built ships delivered continue to be high... The domestic container shipping market has not changed much compared to the same period last year.
Specifically, the exploitation output on the Hai Phong - Ho Chi Minh City route remains stable and positive compared to 2023 thanks to the increase in some main commodities. Shipping lines maintain the exploitation frequency and routes, so the competition in the domestic market is extremely fierce. In addition, although some companies have leased ships for a time and put them on drydock, the supply of ships exploited in the domestic market still exceeds demand.
“The volume of goods passing through Vietnam's seaports in the first 9 months of the year grew well compared to the same period in 2023. Areas with high volume of goods passing through such as Ho Chi Minh City, Hai Phong, Quang Ninh”, informed a representative of VIMC.
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