The burden of interest rate costs pulled down Vietnam Container Shipping Joint Stock Corporation’s (Viconship) 2023 net profit to its lowest level since 2009.
The Vietnam Container Shipping Joint Stock Corporation (Viconship) is mobilizing capital from a share issuance to finance the acquisition of Nam Hai Dinh Vu Port and build the Hyatt Place Hai Phong Hotel in the northern city of Hai Phong.
Shipping corporations PVTrans and Gemadept have reported a 46% jump and a five-fold increase year-on-year in Q2 after-tax profits respectively, while peers VIMC, Viconship and Hai An recorded significant drops.
Gemadept, a leading port operator and logistics firm in Vietnam, reported an after-tax profit of VND1.71 trillion ($72.3 million) in the second quarter of the year, up 5 times year-on-year thanks to the sale of Nam Hai Dinh Vu port.