Total goods exchange output will increase rapidly, bringing opportunities to Vietnam’s shipping firms.

VietNamNet Bridge - Vietnamese shipping firms have been losing their domestic market share to foreigners.

VietNamNet Bridge - The Vietnam shipbuilding industry has been developing in 10-year cycles with pinnacles in 1987, 1997, 2007 and 2017. As the highest peak of the latest cycle is over, an oversupply may occur in 2018.

In February 2017, the PM signed Decision 200 approving an action plan to develop Vietnam’s logistics by 2025, a large-scale plan with 60 tasks assigned to relevant ministries, agencies, associations and businesses.

Half a decade has elapsed since the Ministry of Transport (MOT) opened up the domestic transport market, worth $50 million a year, to only Vietnamese enterprises.

More shipping firms have reported losses for 2016 and the first months of 2017 as the freight rate and the demand for goods transport have dropped to a 10-year low.

VietNamNet Bridge - The continued decrease in freight and transport demand has pushed shipping firms against the wall. Many of them have gone bankrupt, while others have had to sell ships to pay off debt.

VietNamNet Bridge - The bankruptcy of Hanjin Shipping Global has surprised the world’s freight & forwarding market and caused alarm among Vietnamese goods owners.

VietNamNet Bridge - Some foreign shipping firms in Vietnam oppose the Prime Minister’s proposal to ask firms to declare their shipping fees.

The sharp fall of the Baltic Dry Index (BDI) to a record low has caused serious concerns among Vietnamese shipping firms. .  

VietNamNet Bridge – The Vietnam Maritime Bureau (Vinamarine) has proposed to continue policies to protect its fleet in the the domestic transportation market.

 VietNamNet Bridge – The Vietnam Maritime Administration has asked the Ministry of Transport to not re-licence foreign shipping firms to operate on domestic routes.

Vietcombank has sold the debt owed to it by the Vietnam National Shipping Lines (Vinalines), which is undergoing a mandated restructuring process as requested by the government.

 VietNamNet Bridge – Shipping firms, which have been incurring losses in recent years, have said they oppose new port infrastructure fees that could be raised by 5-6 percent.

 VietNamNet Bridge – Local companies in the maritime shipping market will have to struggle amidst fierce competition with experienced and well-funded players from abroad, as they battle for dwindling orders.

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 VietNamNet Bridge – A lot of the enterprises in the maritime transport, the industry which has great advantages to develop and receives big investments, have been on the verge of bankruptcy.