The Ministry of Transport recently approved a project on Vietnamese merchant fleet development, aiming to handle as much as 10% of the country's exports by 2026, and 20% by 2030, given the current market domination by foreign shipping lines.
At present, Vietnamese exports mainly handled by foreign shipping lines (Photo: thanhnien.vn)
Hanoi (VNA) 💜– The Ministry of Transport recently approved a project on Vietnamese merchant fleet development, aiming to handle as much as 10% of the country's exports by 2026, and 20% by 2030, given the current market domination by foreign shipping lines.
A 2021 report by the Vietnam Maritime Administration (VinaMarine) showed that the volume of goods through Vietnam's seaports has grown steadily for many years with an average rate of 13.8%. Despite the negative impact of the COVID-19 pandemic, in 2021, it increased 2% year on year, reaching more than 703 million tonnes. The volume of container cargo was estimated at nearly 24 million TEU, up 6% year-on-year.
As of December 31, 2021, Vietnam's fleet had 1,502 ships, including 1,032 cargo vessels – down from the 1,267 cargo ships of 2016.
In terms of the fleet structure, just a small part of the Vietnamese-flagged merchant fleet are container ships. That means that the fleet is mainly suitable for the domestic or short regional coastal routes. They cannot compete in the international shipping market, where the world is tending to develop larger ships to optimise costs, according to the transport ministry.
As of December 31, 2021, Vietnam's fleet had 1,502 ships, including 1,032 cargo vessels (Photo: VNA)
Therefore, the project’s main goals include the development of a modern fleet, improvement of efficiency and quality and greater integration into the international market.
The immediate focus is to build a fleet of container ships to work in the Asia-Pacific, with an objective to gain operational experience and set the foundation for long-haul trips in the future.
In recent years, the country's ports have been developed considerably in size, and are now able to accommodate the world's largest ships./.
Despite the complicated developments of the COVID-19 pandemic, the volume of goods through seaports keeps growth momentum, especially container cargo. The connection between the two modes of maritime and inland waterway transport has had positive changes, thus reducing pressure on road transport.
Approximately 1.5 billion USD is needed to build new ships, purchase old ones, and rent and buy containers for Vietnam’s container vessel fleet, according to the Vietnam Logistics Business Association (VLA).
The potential is great, but the development and operation of Vietnamese cargo shipping has not been commensurate with the role and position of the country.
Vietnam’s maritime sector is striving to upgrade its international merchant fleet in order to reduce the country’s dependency on foreign-owned vessels in export-import activities.
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At present, Vietnamese exports mainly handled by foreign shipping lines (Photo: thanhnien.vn)
As of December 31, 2021, Vietnam's fleet had 1,502 ships, including 1,032 cargo vessels (Photo: VNA)
