With the rise of this state-owned enterprise, the Vietnamese stock market now has a total of 18 enterprises with capitalization of over 100,000 billion VND.
The Vietnamese stock market has just had another enterprise with a capitalization exceeding the 100,000 billion VND threshold, which is Vietnam National Shipping Lines – JSC (VIMC – code MVN). The stock of the “tycoon” of Vietnam’s port and shipping industry has just had a strong breakout session, thereby setting a new historical peak at 87,500 VND/share.
VIMC's market capitalization also set a record of more than VND105,000 billion (USD4 billion), up 60% since the beginning of 2025. The figure helped this state-owned "giant" surpass Masan (MSN), Mobile World (MWG) and many banks. With the rise of VIMC, the Vietnamese stock market now has a total of 18 enterprises with a capitalization of VND100,000 billion.
VIMC was established in 1995 under Decision No. 250/TTg of the Prime Minister with the mission of being a core and leading enterprise of the Vietnamese maritime industry. The company aims to develop its business in three areas: maritime transport, seaport exploitation and maritime services. In which, the seaport sector, especially container transport, plays a core role.
VIMC is the largest fleet owner in the country and plays an important role in the economic transport. VIMC's fleet currently accounts for 25% of the total capacity of the national fleet, including large bulk carriers up to 73,000 DWT, annually transporting 60% of the goods exported and imported into Vietnam, contributing to the expansion of Vietnam's trade to many countries and territories.
The Corporation currently has 34 member enterprises, of which 16 are owned by seaport enterprises, managing and operating more than 13,000 m of wharfs (accounting for about 30% of the total number of wharfs nationwide). Some of the key ports in the country include Hai Phong port, Saigon port, Da Nang port and Quy Nhon port.
Business changes positively, all accumulated losses are eliminated
In the past, VIMC (formerly known as Vinalines) had many years of ineffective business operations, leading to accumulated losses of thousands of billions of VND. However, the situation has changed positively, especially in the period 2021-2024, VIMC earned thousands of billions of VND in profits each year, thereby significantly narrowing the accumulated losses.
In 2024 alone, VIMC recorded revenue of more than VND 17,000 billion and pre-tax profit of VND 3,126 billion, up 33% and 47% respectively over the same period in 2023. Profit after tax reached more than VND 2,600 billion, up 53% over 2023, of which net profit attributable to parent company shareholders reached VND 2,014 billion. This result helped VIMC officially eliminate accumulated losses after many years of accumulation.
In 2024, VIMC set a target of consolidated revenue of VND 13,450 billion and pre-tax profit of VND 2,730 billion, up 5% and 28% respectively compared to 2023. With the achieved results, the leading enterprise in the port and shipping industry has exceeded the revenue plan by 26% and the profit target for the whole year by 15%.
Joining hands with a series of world shipping "giants"
Recently, VIMC and its member companies have continuously cooperated with the world's shipping giants to carry out many "huge" projects.
Most recently, the Gemini Shipping Alliance of two container shipping lines, Maersk (Denmark – considered the world's largest maritime logistics group) and Hapag-Lloyd – the largest container shipping line in Germany, has chosen Cai Mep International Port (CMIT) in the Cai Mep – Thi Vai cluster as the only main port in the South.
Cai Mep International Terminal is managed by Cai Mep International Terminal Company Limited, a joint venture between VIMC, Saigon Port Joint Stock Company (code SGP) – a subsidiary of VIMC and APM Terminals – the world's leading container port operator from Denmark.
Previously, the Can Gio super port project with a total investment of 4.8 billion USD was also approved for investment. The investment approval decision was based on the project investment proposal and accompanying documents submitted on April 6, 2023 and the explanatory documents submitted by SGP and Terminal Investment Limited Holding SA (TIL) to the Ministry of Planning and Investment.
TIL is known as a member of the world's leading shipping company Mediterranean Shipping Company (MSC). MSC is headquartered in Geneva, Switzerland, with a fleet capacity of over 23 million TEUs/year, accounting for 18% of the world's total fleet capacity. Service routes connect to more than 500 global seaports.
Furthermore, in October last year, the State Capital Management Committee at Enterprises (CMSC) also proposed that MSC and VIMC participate in the Lien Chieu port project in Da Nang, one of the strategic projects in the planning for the development of Vietnam's seaport system. This is a port with an important geographical location, located on the international sea route and an important trade gateway for Central Vietnam.
Cafef
Source: https://vimc.co/viet-nam-just-has-an-more-1-business-with-100-000-billion-dollar-stock-that-doesn't-worry-about-the-sea-space-the-state-only-proposes-the-partner-of-the-largest-ship-lines-in-the-world/
Comment (0)