VietNam Holding Ltd (LSE:VNH) said the country remains relatively resilient, though April saw its stock market dragged into the world-wide sell-off. In its.
High demand and tariffs continued to drive profits of shipping companies in the first quarter. State-owned Vietnam Maritime Corporation doubled its profits to VND688.9 billion (US$29.8 million) in the period, while its subsidiary Vinaship said profits rose to VND40.2 billion from VND3.2 billion in the same period last year. The country’s largest private player, Gemadept, .
High demand and tariffs continued to drive profits of shipping companies in the first quarter. State-owned Vietnam Maritime Corporation doubled its profits to VND688.9 billion (US$29.8 million) in the period, while its subsidiary Vinaship said profits rose to VND40.2 billion from VND3.2 billion in the same period last year. The country’s largest private player, Gemadept, .
Many shipping companies are targeting double digit growth this year, mainly based on higher freight rates and recovering demand from the manufacturing sector. Vietnam’s largest listed shipping company Gemadept Corporation expects a 19 percent rise in revenues this year to VND3.8 trillion ($165.4 million), and profits to grow by 24 percent to VND1 trillion. The .
Vietnam Logistics Business Association wants to set up a new container shipping line to compete with international lines and renovate Vietnam’s old fleet.