shipping firms

Update news shipping firms

Having sold head offices and ships, many shipping firms still cannot pay off debts.

Fierce competition in shipping industry predicted for 2019

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

Low freight volume, debts sinking VN shipping firms

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

Shipbuilding industry’s golden era over, oversupply predicted

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.

2017: eventful year for Vietnam logistics sector

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.

Shipping firms still lag behind in domestic transport market

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.

Shipping firms engulfed in difficulties, report losses

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.

Maritime transport firms continue to take losses

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.

Shipping giant insolvency worries importers, exporters

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

Foreign shipping firms oppose freight-fee declaration

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

Shipping firms’ recovery stymied by drop in dry-cargo transport prices

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

Vietnamese shipping firms vow to monopolize domestic market

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

VN Maritime Administration asks ministry to continue ban on foreign shippers

 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 sells Vinalines’ debt

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.

Shipping firms cry foul as port developers attempt to raise fees

 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.

VN shipping firms face uphill battle

 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.

BUSINESS IN BRIEF 16/12

 Red River Delta development plan announced; Steel sector struggles to iron out difficulties; Vietnam’s sustainable coffee production starts to stir; Shipping firms ignore container handling charges

Shipping firms still cannot find the way out

 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.