By GMM News | 2025-01-08 | Global Partner News |

In 2024, Vietnam Maritime Corporation (VIMC) recorded a profit of VND 4,940 billion, a record high and the fourth year the enterprise achieved a profit of over VND1,000 billion.

At the 2024 Annual Review Conference on January 6, Mr. Nguyen Canh Tinh, General Director of VIMC, said that last year, the world situation continued to be complicated, the maritime transport market was unstable due to the impact of geopolitical conflicts in the regions as well as the crisis in the Red Sea. Meanwhile, the level of competition in the seaport sector is increasingly fierce due to the development and emergence of many new private ports with superior infrastructure, modern and synchronous equipment, and flexible mechanisms. However, VIMC still maintained a steady progress, with the highest production and business results in many years.

Specifically, the maritime transport output handled by VIMC fleet reached approximately 20 million tons, exceeding the 2024 plan by 22%. In the seaport sector, the cargo throughput is estimated at 145 million tons, equal to 126% of the same period and 117% of the 2024 plan. The business results from the above two pillars have brought VIMC’s total revenue to VND 24,813 billion (of which consolidated revenue was VND 18,208 billion, up 30% over the same period in 2023 and exceeding the plan by 35%). VIMC’s total profit is estimated at VND 4,940 billion (of which consolidated profit reached VND 3,510 billion, up 65% over the same period in 2023, exceeding the plan by 28%). In 2024, the average employee salary will reach 18.2 million VND per month, of which the parent company will reach 25.1 million VND per month, equal to 109% of the plan.

According to Mr. Nguyen Canh Tinh, the increase in revenue and profit is due to the restructuring of the fleet. Although the fleet capacity has decreased, due to the promotion of outsourcing activities in many forms, the maritime transport output has far exceeded the plan from the beginning of the year. In 2024, VIMC Lines will expand its operations and develop service routes connecting Malaysia, Singapore and Indonesia. The output of the seaport block has grown well because VIMC has implemented solutions to maintain and increase the market and market share, and develop 10 new container service routes to the ports of Hai Phong, Da Nang, Quy Nhon, etc. VIMC’s seaport output in 2024 increased by 26% over the same period, including major service routes, directly connecting the domestic seaport system with seaports in Europe and the US.

Also in 2024, VIMC’s key projects have been accelerated, basically achieving progress according to the set plan. In particular, with the investment project to build container terminals No. 3 and No. 4 at Lach Huyen port, Hai Phong city, VIMC is completing bidding packages, installing equipment and preparing port opening procedures, putting into operation in the first quarter of 2025 as planned.

For the Can Gio international transit port project, in 2024, VIMC has explained additional project documents. Up to now, the project has basically resolved related procedures. In 2025, VIMC will coordinate with partners to complete investment preparation procedures, and be selected as an investor. Regarding the orientation for 2025, Mr. Tinh said that VIMC will focus on implementing development investment projects, such as Lach Huyen port, Lien Chieu port, Can Gio international port, etc.

Together with the Cai Mep – Thi Vai port in operation, Can Gio port will increase its competitiveness with other seaports in the region. The volume of goods transiting through Vietnamese seaports will grow strongly, possibly surpassing Singapore. This is the mission of the Corporation to raise the national competitiveness. Enterprises continue to invest in new ships or buy old ships in accordance with the fleet development strategy, prioritizing new generation ships that are fuel-efficient and environmentally friendly, with the mission of developing the National fleet under the direction of the Government.