SEA TRANSPORTATION INDUSTRY CONTINUOUSLY BIG PROFITS

High demand, strong increase in freight rates continue to support the profits of many shipping companies.

In the first quarter of the year, Hai An Transport and Handling Joint Stock Company (HAH) recorded a profit of more than 260 billion VND, completing more than half of the year plan. This number increased more than 3 times compared to the same period last year and approached the record profit of the previous quarter.

Also with an increase in profit by times, in the first quarter, Vietnam National Shipping Lines (Vinalines - MVN) doubled its profit compared to the same period in 2021, reaching nearly VND 690 billion. And Gemadept Joint Stock Company (GMD) recorded a profit increase of about 1.85 times to nearly 320 billion dong. Particularly, Vinaship Shipping Joint Stock Company (VNA) has a sudden increase in profit of 12.5 times, but the absolute number is still small compared to many enterprises in the same industry, just over 40 billion dong...

Rising demand and favorable movements of freight rates continue to be the foundation for profits for many businesses in this industry.

According to Vinaship, market demand since the Lunar New Year has increased, the BDI index (Baltic dry cargo chartering index, which assesses the rental fee for transporting raw materials such as iron ore, coal, cement, etc.) cereals... globally) from 1,400 to 2,700 points.