Statistics from 23 listed maritime companies show significant expected growth in revenue and profit for the industry in 2024. Hai An Transport and Stevedoring Joint Stock Company (HAH) has completed the construction of 4 container ships, anticipating a fleet of 16 by late 2024. VIMC is also planning to invest in new vessels while phasing out older, less efficient ships. Vosco approved a plan to invest in 10 vessels, including used and new builds. Vinaship is also looking to expand its fleet. Market projections by SSI suggest increased transport demand due to U.S. imports and pressures from the Red Sea tensions, likely driving freight rates higher in the future. However, the maritime industry’s profits are expected to continue growing over the next two years, with new supply pressures from fleet expansions expected by late 2025.
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