Vietnam port container throughput jumped 8.5pc in 2020 to 17m TEU
VIETNAM container port volumes increased by 8
15 February 2021 - 19:00
The growth was primarily driven by substantial terminals in Lach Huyen, in central Vietnam, and Cai Mep in the South province of Vung Tau, close to Ho Chi Minh City.
Volume at Lach Huyen, a public private partnership between the government of Japan and Vietnam which was inaugurated in 2018, jumped from 418,558 TEU to 661,071 TEU while container cargo at Cai Mep terminals grew to 4.41 million TEU, up from 3.74 million TEU the year before.
Last month, Gemalink, a joint venture between CMA CGM and Vietnamese corporation Gemadept, began operations at Cai Mep.
Saigon New Port Corporation, run by the Vietnamese Navy, posted excellent results in its ports of Saigon (Cat Lai) with 5.59 million TEU, and two terminals in Cai Mep where they moved 2.83 million TEU, the largest participant in the Southern port complex, reports Colchester's Seatrade Maritime News.
According to industry analysts, Vietnam's port sector is set to flourish this year as trade in goods is expected to thrive on the back of recovery in production, domestic consumption, export markets and reshoring of global supply chains.
Total foreign trade in 2020 was estimated at US$543.9 billion, a year-on-year increase of 5.1 per cent. Despite the covid-19 outbreak, the economy has continued to post strong growth, which is set to rise to 6.8 per cent this year, according to the Asian Development Bank (ADB)
Volume in Vietnamese ports picked in 2020 Q2 with the pandemic encouraging many multinational corporations to shift production to Vietnam, a trend likely to continue as Vietnam integrates various FTAs such as the EU-Vietnam FTA (EVFTA) and the Regional Comprehensive Economic Partnership (RCEP).
As of the beginning of 2020, Vietnam had increased its berth space by more than eight times in the past 20 years to a total of 588 berths in 34 ports. The focus will be on developing the Hai Phong and Cai Mep ports to international standards. Vietnam also plans to invest in the central economic zones as part of the effort for the development of major ports and clusters that can accommodate large container ships.
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