MARKET NEWS

ESTABLISHED HANOI LOGISTICS ASSOCIATION

On November 12, Hanoi Logistics Association (HNLA) was officially established and launched. Mr. Tran Duc Nghia, Director of Delta International Joint Stock Company was elected as Chairman of the Association for the term 2022-2025.

CONTAINER QUANTITY OF GOODS IMPORTED INTO THE US DROPPED SHARPLY

According to the latest McCown report, import container throughput fell 5.5% in September. This is a decline not seen since the early stages of the pandemic and is larger than the 0.3% seen in the previous month July and 0.6% in August.

UTILIZATION OF GLOBAL CONTAINER SHIPPING VESSELS IS AT A LOW LEVEL

The efficiency of using container ships globally is at a low level, especially on the trans-Pacific and Eurasian routes, causing the container freight rates to drop continuously in the past time.

COSCO SHIPPING COOPERATES WITH FAW GROUP TO DEVELOP THE AUTOMOTIVE SUPPLY CHAIN

Cosco Shipping - China's shipping giant - and auto manufacturer, FAW Group, have signed a strategic cooperation agreement to develop the supply chain for the automotive industry.

VIETNAM HAS A TRADE SURPLUS OF 9.4 BILLION USD IN 10 MONTHS

In October, the country had a trade surplus of 2.27 billion USD. By the end of October this year, the country was estimated to have a trade surplus of 9.4 billion USD.

ONE FORECASTS MORE DIFFICULT BUSINESS WHEN DEMAND AND FREIGHT RATES DECREASE IN THE NEAR FUTURE

Ocean Network Express (ONE) expects profit for the second half of fiscal 2022 to be lower than the profit it reported for the second quarter due to the effects of falling demand and a deteriorating freight market.

SOON TO ADJUST HAI PHONG SEAPORT INFRASTRUCTURE FEE

The Government Office has just issued Official Letter No. 7287/VPCP-CN dated October 29, 2022 conveying the direction of Deputy Prime Minister Le Minh Khai on fees for using infrastructure works, service works, Public utilities in the seaport border gate area in Hai Phong City.

PROPOSAL TO REDUCE PORT INFRASTRUCTURE FEES IN HO CHI MINH CITY

Department of Transport proposes to reduce 50% of seaport infrastructure fees for goods transported by waterway; the same level of revenue for enterprises in the city and localities.

MORE THAN 1,400 BILLION VND TO UPGRADE CAI MEP - THI VAI CHANNEL

Ba Ria - Vung Tau: Cai Mep - Thi Vai channel will be expanded 310 - 350 m, 14 - 15.5 m deep in order to improve the exploitation efficiency of the port cluster and welcome large ships.