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.
Tickers of Vietnamese shipping and seaport firms have surged 17-32% over the past month, driving a 6.4% gain on Vietnam’s benchmark VN-Index thanks to a brighter outlook for trade and freight and charter rates unlikely to fall further.
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.