By GMM News | 2024-11-11 | Global Partner News |
Hai An Transport and Stevedoring Joint Stock Company (HAIAN Lines – HAH) was established in 2009. On March 11, 2015, the company was listed on the Ho Chi Minh Stock Exchange with the stock code HAH. HAH mainly operates in Vietnam and intra-Asia markets,owns Hai An container terminal in Hai Phong City. This is the enterprise with the largest container sea transportation capacity in Vietnam. According to Alphaliner’s rankings published in Nov 08 2024, the company’s fleet is also in the top 100 (Rank 78) largest container fleets in the world .
Regarding business activities, according to the company’s financial report, in the first half of 2024, Hai An‘s net revenue reached 1,653 billion VND (up 30.5% over the same period). Hai An’s profit after tax reached 171 billion VND (down 20.9% over the same period). Positive business results thanks to increased freight prices. In July 2024, HAH has adjusted the fare rate for domestic routes from 10 – 37%, for international routes, the price remains the same, however, the surcharge for international routes is adjusted to increase. 7 – 13% compared to the price at the beginning of the year.
Besides, the company expanded its service lines. HAH has continuously opened new intra-Asia routes since the beginning of the year. Compared to 2023, there are only routes from Hai Phong port ↔ Hong Kong, Nansha and Qinzhou ports, in 2024, HAH has opened more routes from ports in HCM, Da Nang ↔ Nansha, Quinzhou, as well as domestic routes that go from Nghi Son port ↔ Hai Phong, HCM, Cai Mep – Thi Vai ports.
In addition, this business result also has the contribution of two new ships, HaiAn Beta (delivered in April 2024) and Anbien Sky (delivered in May 2024). Since 2014, HAH started opening the ship operation segment and continuously increased the capacity of the fleet. In particular, this business has sharply increased its ship purchases since the Covid 19 epidemic. From 2 ships, up to now, the company has increased to a total of 15 container ships.
In July 2024, HAH received the HaiAn Opus ship as the last newbuilding ship in the project of 4 newbuilding ships delivered from the end of 2023 to present. So with these 4 new ships, HAH has increased its fleet capacity by 45% compared to the beginning of 2023. The ship price is about 27 million USD, the break-even cost of new ships is about 14,000 USD/day. In September 2024, HAH approved an additional investment policy to buy used Panamax-sized container ships (3,500 – 5,000 TEU) to prepare for expanding production and business activities. HAH’s ships are all sized from 787 – 1,800 TEU.HAH has 3 ships over 20 years old: HaiAn Park, HaiAn Time and HaiAn Bell.
Currently, HAH has 7 vessels for long-term lease (53% of fleet capacity), of the 4 new vessels, there are 2 for lease (Anbien Sky and HaiAn Opus) and 2 for self-operating (HaiAn Alfa and HaiAn Beta). The two new ships HaiAn Mind and HaiAn Opus both have a charter period until the end of the year, with HaiAn Opus signed a contract until July 2026. The re-signing price of ships has improved compared to the beginning of the year, new ships signed in the third quarter of 2024 are priced at 15 – 18,000 USD/day compared to 14 – 15,000 USD/day at the beginning of the year. Re-signing high-priced contracts ensures HAH’s positive business results in the second half of 2024.
