HANOI: The Vietnamese transport sector has witnessed significant divergence in performance during the first half of this year, with leading companies reporting robust growth while others, particularly those with ageing fleets, facing declining profits.

This trend reflects the broader dynamics of Vietnam’s trade landscape, which has seen a substantial increase in export and import activity.

According to the General Statistics Office, Vietnam’s total export-import turnover reached US$432bil in the first half of this year, marking a 16.1% increase from the same period last year.

Key exports, including textiles, footwear, computers and electronic components, maintained double-digit growth, driven by rising demand and a strategy of front-loading to mitigate the impacts of changing tariffs.

In the medium to long term, companies are diversifying their export markets and increasing local content to leverage signed trade agreements, thereby expanding their consumer base and reducing the impact of US tariffs.

As a direct consequence of the shifts in trade flows, some companies in the transport sector managed to report a notable performance.

For instance, Hai An Transport & Stevedoring JSC reported a remarkable revenue increase of 47.9% to 2.44 trillion dong or about US$92.4mil in the first half of this year, with net profit soaring by 291.3% to 688 billion dong. This result meant the company achieved 79.5% of its annual profit target in just six months.

In February, Hai An successfully acquired another container ship, the Haian Zeta, with a capacity of 1,702 twenty-foot equivalent units, increasing its fleet to 17 vessels primarily focused on intra-Asian routes.

However, Haian Zeta has been chartered to partner Sealead Shipping for operations on the route from the Mediterranean and North Africa to the east coast of the United States.

This marks Hai An’s first foray into the US market, paving the way for future investments in long-haul routes to destinations like the United States and Europe.

Previously, Hai An has also been proactive in modernising its fleet, adding vessels including Haian Link and Haian Bell in 2018), Haian Mind in 2019, Haian East and Haian West in 2021, as well as Anbien Bay, Haian City and A Roku in 2022. — Viet Nam News/ANN