Seaport industry – Benefit from policy and the recovery in 2024
- The estimated value of exports and imports containers via sea 9M2023 was USD 146 billion (-7% YoY) and USD 97 billion (-18% YoY). In which, Vietnam's major export markets are the US, China, and the EU, with export market shares of 28%, 12%, and 11% were USD 42.5 billion (-16% YoY), USD 18.1 billion (+1% YoY) and USD 15.7 billion (-11% YoY), respectively. Vietnam's three main import markets, China, South Korea, and ASEAN, with import market shares of 35%, 12%, and 11% were USD 34.3 billion (-19% YoY), USD 12 billion (-26% YoY), and USD 10 billion (-23% YoY), respectively.
- Accumulated 9M2023, total container throughput in Hai Phong and Vung Tau were 4.6 million TEUs (-2% YoY) and 3.5 million TEUs (-14%) respectively. The deepwater port cluster in Vung Tau serves mainly long distance routes to Europe and the US. When trade flows are gradually recovering, throughput in Q3-FY23 also improved compared to the first half of the year. Meanwhile, the Hai Phong area is a destination for shipping lines operating Intra-Asia with a less severe decline.
- After discussing with the BOD of major seaport companies in Hai Phong, VSC and GMD, we found consensus and determination in proposing amendments to Circular 54/2018/TT-BGTVT. Accordingly, two companies expect that the MoT will officially announce approval of the draft amendments in November 2023 and the new circular will apply from January 1, 2024
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