"Bright door" for maritime transport

Sea freight rates have increased at times in recent times, helping shipping businesses, especially container ship businesses, achieve positive business results.

At the end of the third quarter of 2024, the consolidated financial report of Vietnam National Shipping Lines ( VIMC ) recorded increased production and business efficiency compared to the same period in 2023.

The company's net revenue from sales and service provision reached over VND4,094 billion, up 26.6%. Profit after tax in the quarter increased sharply by more than 62%, reaching over VND603.1 billion. Accumulated in the first 9 months of 2024, VIMC achieved a profit after tax of over VND2,242 billion, up more than 76% over the same period last year.

VIMC and its member businesses take advantage of many market opportunities to increase revenue (Illustration photo).

According to VIMC, in 2024, the world economic context will have many fluctuations such as high inflation in many countries, geopolitical conflicts will become more complicated. The shipping industry will be under pressure to reduce carbon emissions and emissions.

At the same time, the conflict between Israel and Hamas has led to tensions in the Red Sea. The shortage of empty containers and congestion at some Asian ports have also affected maritime transport.

In that context, VIMC and its member enterprises have taken advantage of many opportunities, aiming to maintain market share and increase revenue outside of traditional activities...

Therefore, in the third quarter of 2024, pre-tax accounting profit reached VND 731 billion, equal to 156% over the same period last year and pre-tax profit in the first 9 months of this year reached VND 2,640 billion, equal to 167% of the performance in the first 9 months of 2023.

Recently, with the developments in the world geopolitical situation, shipping rates have been increasing, bringing a "bright door" to shipping businesses.

Currently, data from the Drewry Marine Market Research Platform shows that the Drewry WCI composite index increased by 4% to 3,213 USD/40-foot container, 126% higher than the 2019 (pre-pandemic) average of 1,420 USD. Previously, in July 2024, the Drewry WCI composite index reached more than 5,800 USD/40-foot container.

Also one of the "giants" in the maritime industry, Gemadept Joint Stock Company achieved positive production and business results.

The enterprise recorded after-tax profit in the third quarter of 2024 of the parent company reaching more than 335 billion VND, an increase of nearly 81 billion VND over the same period last year.

According to Gemadept, the main reason for this production and business efficiency comes from increased gross profit in port operations, logistics and the rest from joint ventures and associated companies.

Although the profit after tax in the quarter increased, the accumulated profit after tax of Gemadept in the first 9 months decreased by 882 billion VND compared to the same period in 2023, reaching nearly 1,225 billion VND. The main reason comes from the difference in profit and scale of capital transfer deals.

Also recording positive profits in the third quarter was Hai An Transport and Stevedoring Joint Stock Company. After putting into use 3 newly built container ships, along with the increase in transport output and freight rates in recent times, at the end of the third quarter of 2024, Hai An had a sharp increase in profits compared to the same period last year.

This enterprise has a net revenue of more than 1,128 billion VND, an increase of 65.63% over the same period in 2023. Consolidated profit after tax of the parent company in the third quarter increased by 88.51% over the same period in 2024, reaching more than 199.2 billion VND.

Accumulated in the first 9 months of 2024, Hai An recorded after-tax profit of the parent company reaching more than 370.3 billion VND, an increase of more than 15% over the same period last year.

Hai An explained that putting 3 ships into operation helped increase the number of ships for lease for this enterprise. At the same time, the ship rental price in the third quarter also increased, significantly increasing the enterprise's revenue. Not to mention, the Zim - Hai An shipping joint venture also started to make a profit from the second quarter of 2024 and increased sharply in the third quarter of 2024 and the increased transport output, so the output and revenue of port operations also increased.

Source: https://www.baogiaothong.vn/cua-sang-cho-van-tai-bien-192241102135743892.htm