Vietnamese shipping company begins service to Malaysia and India

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The Vietnam Maritime Corporation has launched a container transport route to Malaysia and India.

The route between Vietnamese port of Hai Phong and Klang port in Malaysia, Calcutta in India, Port Klang and the SP-ITC international container terminal in HCMC takes 10 days less than the routes of foreign shippers, VIMC said.

It is the first time that Vietnamese container ships have crossed the Straits of Malacca to the Indian Ocean to transport goods to Malaysia and India, two major import and export markets for goods and raw materials for Vietnamese companies.

VIMC said it plans to expand its large-tonnage container ship fleet and operations in the region as well as around the world.

Amid the Covid-19 outbreak, Vietnamese importers and exporters have been hit by the high freight rates demanded by foreign shipping companies and are struggling to book their services.

Freight rates to Europe and North America have increased four to eight times to about $ 20,000 for a 40-foot container.

Many Vietnamese shipping companies saw their profits increase in the third quarter due to rising freight rates.

VIMC reported revenues of VND 4.127 billion ($ 179.4 million), up 71% year-on-year, and profits of VND 760 billion, compared to a loss of nearly VND 30 billion in the same quarter from last year.

According to the Vietnamese Maritime Administration, the country’s ports handled more than 535 million tonnes of cargo in the first nine months of this year, an increase of 3% year-on-year.


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