Analyst Pin-board Seaport Industry Update
Key container terminal zones have regained a positive growth rate in Q3-2020, in line with the gradual improvements in trading activities since June (figures 1 and 3). Accumulated container volume through seaports in 10M-2020 saw a 6% YoY rise, reaching nearly 15mn TEU. Out of key container terminal zones, container throughput volume at Vung Tau terminals has witnessed the most robust rebound in terms of growth rate, continuing to enjoy the high double-digit. This is due to the fact that Vung Tau is home to deep-sea ports that serve many direct US-bound (both West Coast and East Coast) services, coupled with the surge in export value to the US in 2020. In fact, Vietnam is now ranked second among countries exporting to the US, only behind China, increasing its share in terms of recorded shipments to 5.5% in 2020 (figure 4). With this solid momentum, Vung Tau will soon surpass Hai Phong and become the second-most important container terminal zone in Vietnam.
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