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Hai Phong Port Credit score Alex Dao.
Vietnam has joined its neighbour, Thailand, in saying plans to broaden its container transport fleet.
The Vietnam Logistics Enterprise Affiliation (VLBA) stated final week that, over the subsequent 5 years with a $1.5bn finances, it’ll construct field ships, purchase second-hand tonnage or lease vessels.
It expects them to be deployed on routes connecting Vietnam with China, South Korea, Japan, Malaysia, Singapore, India and the Persian Gulf.
At present, there are ten Vietnamese firms energetic in container transport, with a complete fleet capability of 39,519 teu.
The affiliation identified that, whereas Vietnam dealt with 24 million teu of imports and exports final 12 months, solely 7% was carried by native liner operators, attributable to their restricted capability. The VLBA intends to work with personal transport firms and the federal government to boost funds to amass ships.
It stated Vietnamese shippers have been additionally dealing with container shortages, however would procure bins on hire-purchase or long-term leases to restrict capital expenditure.
Till 2024, the affiliation’s vessel acquisitions will likely be within the 1,800-2,500 teu vary, because the shallow draught of those ships allows them to dock at Hai Phong port. The affiliation plans to buy 14 ships in 2023 and one other six in 2024, planning to deploy the vessels on the China-Japan route. From 2025 onwards, the VLBA will look to amass 4,000-5,500 teu ships that may serve routes connecting East Asia with South-east Asia and locations additional afield.
Linerlytica analyst Tan Hua Joo advised The Loadstar Vietnam’s liner operators, led by Hai An Transport & Stevedoring, have been extra aggressive in increasing their fleets. He stated, “The Vietnamese container market could be very fragmented and particular person carriers are pursuing totally different development methods.
“The state owned carriers, together with Vietnam Maritime Company (ex-Vinalines), have continued to underperform, haven’t been energetic in build up their capability lately and have didn’t capitalise on the booming container markets of the previous two years.”
Hai An has been probably the most energetic ship shopper amongst Vietnamese liner operators, shopping for two 1,700 teu vessels final 12 months and ordering two opf 1,800 teu at China’s Huanghai Shipbuilding in March for supply in 2023.
Mr Tan added: “Nonetheless, the Vietnam-flagged fleet stays very small and centered on the feeder sizes, and so they haven’t developed any deepsea capabilities that might threaten the dominance of the foreign-flagged carriers in Vietnam.”
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