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Logistics set for growth, shipping benefits: Vietnamese bank report
VIETNAM's logistics sector is expected to maintain high growth this year, according to a January 21 Vietcombank Securities (VCBS) report.
The report stated that seaports and the marine transport industry will benefit from free trade agreements (FTAs) that the country has entered into.
These include the FTA between Vietnam and the Custom Union of Russia, Belarus and Kazakhstan, the Vietnam朣outh Korea FTA, the Vietnam朎U FTA, and the Trans-Pacific Partnership.
Global giants such as Samsung, Microsoft, LG and Bridgestone are gradually moving their production chains to Vietnam, boosting import and export volumes, said the report.
The Vietnam Maritime Administration set a goods throughput target for the country's seaport system at 470 million tonnes this year, up 10 per cent over last year.
Container shipments alone are expected to reach 13.3 million TEU in 2016, a year-on-year increase of 11 per cent.
Last year, the goods throughput of 427 million tonnes, with container shipments reaching 12 million TEU, already hitting a six-year high.
Notable increases in frozen containers shipped to China, improved Vietnamese vessel performances and falling fuel costs contributed to the "impressive growth", according to the VCBS report.
The number of ships in Vietnam's fleet increased from 30 to 39 last year, and they transported 107.8 million tonnes of goods during 2015, up 9.5 per cent over 2014.
The prices of IFO380 oil in Singapore fell to between US$200 and $300 per tonne over the last six months from $500 to $600 recorded during 2014, significantly reducing costs.
The report stated that seaports and the marine transport industry will benefit from free trade agreements (FTAs) that the country has entered into.
These include the FTA between Vietnam and the Custom Union of Russia, Belarus and Kazakhstan, the Vietnam朣outh Korea FTA, the Vietnam朎U FTA, and the Trans-Pacific Partnership.
Global giants such as Samsung, Microsoft, LG and Bridgestone are gradually moving their production chains to Vietnam, boosting import and export volumes, said the report.
The Vietnam Maritime Administration set a goods throughput target for the country's seaport system at 470 million tonnes this year, up 10 per cent over last year.
Container shipments alone are expected to reach 13.3 million TEU in 2016, a year-on-year increase of 11 per cent.
Last year, the goods throughput of 427 million tonnes, with container shipments reaching 12 million TEU, already hitting a six-year high.
Notable increases in frozen containers shipped to China, improved Vietnamese vessel performances and falling fuel costs contributed to the "impressive growth", according to the VCBS report.
The number of ships in Vietnam's fleet increased from 30 to 39 last year, and they transported 107.8 million tonnes of goods during 2015, up 9.5 per cent over 2014.
The prices of IFO380 oil in Singapore fell to between US$200 and $300 per tonne over the last six months from $500 to $600 recorded during 2014, significantly reducing costs.
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