Retail News CRM

Tag: shipping

  • Doris Magsaysay Ho Becomes First Woman to Win RVR Nation Building Award

    Doris Magsaysay Ho Becomes First Woman to Win RVR Nation Building Award

    Doris Magsaysay Ho has received the Ramon V. Del Rosario Nation Building award in Manila, making her the first woman to win the business honour since its creation in 2010.

    Ho leads the Magsaysay Group of Companies, a Philippine shipping, human resources, and logistics group operating in a sector where Filipino seafarers account for more than 25 percent of the global maritime workforce.

    Workforce Equity in Transport and Logistics

    Women represent only 6 percent of the Philippine seafaring workforce, according to data from UP-CIFAL Philippines, with most concentrated in passenger catering and hospitality rather than technical posts. Under Ho, Magsaysay secured EDGE Assess certification for gender equity after lifting female representation in junior management roles to 45 percent.

    Her group also set up internal support systems for crew members. The company operates Fundamayan for family emergency aid and MATTERS, a dedicated program handling healthcare, financial literacy, and career planning for Filipino crews deployed globally.

    Training Capacity and Regional Board Leadership

    To secure skilled labour for international routes, Magsaysay partnered with Japan’s Mitsui O.S.K. Lines in 2018 to establish the MOL Magsaysay Maritime Academy, a facility built to train up to 1,000 cadets annually.

    For supply chain operators across Southeast Asia, crewing and vessel management remain critical bottlenecks as global fleets push for higher compliance and skilled technical crews. Previous recipients of the award include SM Group founder Henry Sy Sr., Jollibee Foods founder Tony Tan-Caktiong, and Ayala Corporation chairman Jaime Augusto Zobel de Ayala.

    The award is administered by the PHINMA Group, De La Salle University, the Asian Institute of Management, and Junior Chamber International Manila, with candidate evaluations conducted annually.

  • Black Sea Tensions Threaten Asian Food Supply Chains, Embassy Warns

    Black Sea Tensions Threaten Asian Food Supply Chains, Embassy Warns

    Tensions in the Black Sea region are creating significant risks for global food security and supply chains, with direct implications for Asian markets, warned the Russian Embassy in Cambodia. The embassy issued a comment responding to an article on food security originally published by The Indian Express and reprinted by Khmer Times, stating that the “Kiev regime and its sponsors” are overlooked as main beneficiaries of supply chain disruption.

    According to the statement, Ukrainian forces have increased attacks on coastal transport, logistics infrastructure, and civilian vessels in the Sea of Azov and the Black Sea. These attacks, reportedly utilizing unmanned systems and intelligence from NATO and the EU, have targeted essential agricultural shipments such as grain and sunflower oil.

    Shipping Under Attack

    The embassy cited several incidents, including a June 5 drone attack by the Armed Forces of Ukraine (AFU) on dry cargo ships Natra and Zirkon in the Sea of Azov, which resulted in five fatalities and three injuries. In July, there were over 100 reported drone attacks by Ukrainian forces against private vessels transporting Russian agricultural products to the global market. An attack on July 18 targeted the commercial bulker MV OMORFI, which was sailing under the Marshall Islands flag and transporting grain, leading to the death of an Indian sailor.

    Further incidents included AFU attacks on the grain export terminal in Rostov-on-Don between July 25-27, followed by the seaport of Taman on July 30. Ukrainian drones also targeted the Nadezhda, a ship flagged by Cameroon and operated by a Turkish company, and the Turkish bulk carrier Yaşar on August 3. These actions, described by the embassy as militarily pointless, violate international law on civilian vessel safety and cause delays in deliveries of crucial commodities to international importers.

    Global Market Impact

    The embassy asserts that this military campaign by the Kiev regime aims to create chaos in the global food market, serving the interests of several Western countries. This strategy, combined with financial, economic, and energy restrictions, is contributing to a deficit in grain and fertilizers, pushing up global food prices. The statement emphasized that countries in the Global South and East are becoming hostage to these policies, facing increased costs.

    In response, the Russian Armed Forces are reportedly taking measures to ensure navigation safety, including precision strikes against Ukrainian facilities used to destabilize shipping and infrastructure involved in delivering Western military hardware to Ukraine. These operations will continue until security threats in the Sea of Azov and Black Sea are eliminated, and unimpeded agricultural product exports are guaranteed.

    For Asia-Pacific retailers and consumers, these ongoing disruptions translate to higher import costs and potential supply volatility for staple goods like grains and oils. The region, heavily reliant on international trade, is particularly vulnerable to such geopolitical pressures on global commodity flows. This dynamic aligns with broader concerns RetailNews Asia has tracked regarding global supply chain resilience and its impact on regional retail sectors.

  • Cosco Shipping Sets Sights on Southeast Asia: Plans Expansion in Vietnam and Indonesia Amid Growing Trade Demand

    Cosco Shipping Sets Sights on Southeast Asia: Plans Expansion in Vietnam and Indonesia Amid Growing Trade Demand

    Cosco Shipping International (Singapore) is setting sights on increased investment in Vietnam, Malaysia, and Indonesia within the next three to five years, in anticipation of a surge in Southeast Asian trade. The firm’s president, Jiang Kai, expresses a robust sense of assurance in the potential of the Southeast Asian market.

    Cosco Shipping International, the logistic subsidiary of the Chinese state-owned maritime behemoth China Cosco Shipping Corporation, is currently listed in Singapore. The company generates its consolidated revenue primarily from its operations in Singapore and Malaysia, with the city-state contributing to approximately 87% of the total. The firm also has a vested interest in logistical enterprises in Indonesia and Vietnam, along with a share in a dry-bulk shipping associate that operates throughout the region. These affiliated firms provide about one-fourth of the group’s pre-tax profit, as witnessed in the latest financial results for the first half of 2026.

    Resilience Amid Global Trade Uncertainties

    Global trade has witnessed a few turbulent years, with factors such as U.S. tariffs and geopolitical instabilities in Ukraine and Iran causing disruptions in shipping routes and supply chains. However, manufacturing activities continue to show resilience in Southeast Asia, notes Jiang. There is also an observed revival in the region’s dry-bulk shipping market, which deals in the transportation of industrial raw materials like coal and iron ore, as manufacturing activities gain traction.

    The demand for specialized cargo shipping, catering to industrial machinery, vehicles, and new energy equipment, is also on the rise, mirroring the region’s progression. “The expansion in Southeast Asia’s shipping industry has resulted in a steady surge in logistics demand,” says Jiang. He adds that many Chinese manufacturing firms, when exploring overseas markets, often consider Southeast Asia as a preferred manufacturing base, a trend that spells long-term benefits for Cosco.

    In the first half of the year, Cosco Shipping International recorded a 6% rise in revenue to SGD96.8 million (US$76 million), propelled by increased contributions from logistics, ship repair, and marine engineering. The company is also expanding its footprint in Singapore. One of its prominent ongoing projects is the Jurong Island Logistics Hub Phase II.

    This project, the company’s most significant investment in Singapore, promises enhanced integrated logistics services and is projected to be completed in the fourth quarter of this year.

    Questions & Answers

    What is Cosco Shipping International’s plan over the next three to five years?
    They are planning to increase investment in Vietnam, Malaysia, and Indonesia in anticipation of a surge in Southeast Asian trade.

    What is the primary source of Cosco Shipping International’s consolidated revenue?
    The majority of the company’s consolidated revenue comes from operations in Singapore and Malaysia, with Singapore contributing about 87%.

    What trends are observed in the Southeast Asian dry-bulk shipping market?
    There is a recovery observed in Southeast Asia’s dry-bulk shipping market, with increasing demand for the transportation of industrial inputs such as coal and iron ore, as manufacturing activity strengthens.

  • Empowering Etsy Entrepreneurs: Asendias SendNow Revolutionizes Shipping in Eight Global Markets

    Empowering Etsy Entrepreneurs: Asendias SendNow Revolutionizes Shipping in Eight Global Markets

    Asendia, a leader in cross-border e-commerce, has recently announced a strategic partnership with Etsy, a global hub for unique and creative products. This collaboration offers Etsy sellers from eight key international markets the opportunity to utilize Asendia’s innovative SendNow platform for their shipping needs.

    Building Bridges for E-commerce Entrepreneurs

    Thanks to this alliance, Etsy vendors from Greece, Spain, Italy, Portugal, the Netherlands, Australia, India, and Vietnam can now access SendNow by Asendia. It allows these sellers to utilize both domestic and global shipping solutions seamlessly, thereby facilitating their business operations.

    This partnership is a significant step for both entities. Etsy’s thriving network of creative entrepreneurs will now be able to tap into Asendia’s expansive global logistics network. This access provides a practical solution for small-scale online retailers, many of whom manage their business operations independently, including the design, production, and shipping of their products.

    SendNow: Asendia’s Comprehensive Digital Shipping Solution

    SendNow is an online, self-service shipping platform by Asendia, tailored specifically to meet the needs of small businesses and marketplace sellers. It offers end-to-end shipping management, empowering sellers to handle all aspects of their logistics via a single digital interface.

    Roman Sobieri, Senior Director of Global Shipping at Etsy, shared his thoughts on the collaboration, “Our sellers come to Etsy to transform their hobbies into businesses. We continuously strive to aid their success, and providing a simplified shipping process is a crucial part of that. Collaborating with reliable partners like Asendia enables us to offer flexible and dependable alternatives that bolster our sellers’ businesses.”

    Upholding Small Business Growth with Trusted Delivery

    As a trusted global shipping partner, Asendia’s SendNow service will be marketed directly to Etsy sellers in the eight selected markets. These merchants will now have easy access to both domestic shipping and international delivery to over 180 global destinations via the Asendia network.

    Simon Batt, CEO at Asendia, expressed his views on the partnership, “Shipping often poses a challenge for many small business owners. With our collaboration with Etsy and the Asendia SendNow platform, we aim to simplify logistics, allowing sellers to concentrate more on expanding their businesses and less on shipping.”

    This partnership is a testament to Asendia’s ongoing dedication to serving the growing e-commerce markets with intelligent, scalable solutions that are closely aligned with the needs of today’s online sellers. By partnering with trustworthy platforms like Etsy, Asendia is broadening its reach and solidifying its position as a key logistics partner for marketplaces and merchants.

    Questions & Answers

    What is the main purpose of the partnership between Asendia and Etsy?
    The partnership aims to provide Etsy sellers in eight key markets access to Asendia’s SendNow platform, offering seamless domestic and international shipping solutions.

    What is Asendia SendNow?
    Asendia SendNow is an online, self-service shipping platform tailored for small businesses and marketplace sellers, offering end-to-end shipping management from a single digital interface.

    Which markets will have access to Asendia’s SendNow service?
    Etsy sellers in Greece, Spain, Italy, Portugal, the Netherlands, Australia, India, and Vietnam will have access to Asendia’s SendNow service.

  • Shopee Slapped with $7700 Penalty for Misleading Free Shipping Promotions in Vietnam

    Shopee Slapped with $7700 Penalty for Misleading Free Shipping Promotions in Vietnam

    Shopee, Singapore’s leading online retail platform, has recently been penalized VND200 million (US$7,700) by the Vietnam Competition Commission (VCC) due to deceptive advertising practices linked to a free shipping campaign initiated in August 2025.

    Confusing Advertising Practices

    The charge came after the e-commerce giant used phrases like “Free Shipping for All Orders,” “Everything Ships Free,” and “Wherever We Deliver, Shipping Is Free for All Orders,” in their promotional materials. Despite disclaimers outlining the conditions for the free shipping offer, several advertisement interfaces didn’t fully disclose the terms and exclusions, leading to confusion amongst customers.

    During the promotional period, roughly 94% of orders were shipped free of charge. The remaining orders either obtained partial shipping discounts or no discount at all due to non-compliance with the required conditions.

    Throughout the investigation, Shopee was cooperative, providing necessary information and documents to the VCC. Apart from the financial penalty, the online platform has updated information on its website, mobile application, and related social media pages to rectify this.

    Addressing the Issue and Future Plans

    Shopee has expressed its commitment to review and enhance the transparency of its communication strategies moving forward. This is with the aim of ensuring that details about promotional campaigns are precise and comprehensive.

    Despite the penalty, Shopee continues to be a formidable force in the Southeast Asian e-commerce landscape. A 2025 report shows the platform managed to sustain its dominant position within Vietnam’s online retail marketplace. It accounted for a staggering 58% market share, registering a gross merchandise value of over $11.8 billion. Competitor platforms, TikTok Shop, Lazada, and Tiki collectively made up the remaining market share.

    Questions & Answers

    What was the cause of the fine imposed on Shopee?
    Shopee was penalized due to misleading advertising related to a free shipping promotion. The company failed to clearly outline the conditions and exclusions of this offer.

    What steps has Shopee taken following the penalty?
    Shopee has rectified the information on its website, mobile application, and social media pages. Additionally, it is committed to improving the transparency of its communication activities for better clarity on promotional campaigns.

    Despite the penalty, how is Shopee performing in the e-commerce market?
    Shopee continues to lead in the Southeast Asian e-commerce market, particularly in Vietnam. In 2025, it recorded a gross merchandise value of over $11.8 billion and accounted for a 58% market share.

  • Pepper Power: Vietnam’s Exports Leap 31% in Q1 Amid Supply and Shipping Challenges

    Pepper Power: Vietnam’s Exports Leap 31% in Q1 Amid Supply and Shipping Challenges

    In the first quarter of 2026, Vietnam’s pepper exports rose by 31.7% to a value of US$430 million, despite challenges related to global supply and logistics. The export volume increased by 39.2% to 66,350 tonnes, according to the Vietnam Pepper and Spice Association.

    March Exports

    The month of March saw a significant surge in exports. Shipments totaled $199.3 million, equating to 30,638 tonnes of pepper. This marked an increase of 119.3% from February and a year-on-year rise of 51.3% in value.

    Black pepper comprised the majority of these exports, with 26,190 tonnes worth $167.3 million. White pepper accounted for a smaller portion, with 4,448 tonnes worth $32 million. Even though black pepper prices dipped by 0.7%, the average export prices remained high, with black pepper costing an average of $6,520 per tonne and white pepper $8,735 per tonne. On the other hand, white pepper prices experienced a slight increase of 1%.

    Main Buyers

    The United States and China continued as Vietnam’s largest pepper buyers in March, with imports of 8,059 tonnes and 3,663 tonnes, respectively. Compared to the previous month, exports to the United States increased by 121% while those to China rose by 134.7%. Other markets such as Egypt, the Netherlands, Canada, and the Philippines also displayed substantial month-on-month growth.

    Import Increases

    Alongside increased exports, Vietnam also registered a surge in pepper imports as businesses sought to supplement domestic supplies for processing and re-export. In March, imports amounted to 10,313 tonnes, up 66.2% from February and 108.8% year-on-year. The total imports for the first quarter reached 21,201 tonnes, valued at $121 million, marking a year-on-year increase of 118.9%.

    Cambodia was the primary supplier to Vietnam, accounting for 55.1% of imports, followed by Brazil and Indonesia.

    Issues and Outlook

    Despite the encouraging export results, the association highlighted concerns about growing supply-demand imbalances. The 2026 harvest is anticipated to yield only 170,000–180,000 tonnes, a decrease of 15–20% from the previous crop due to unfavorable weather conditions and ageing plantations. This limited supply has driven domestic pepper prices to around VND140,000–150,000 (US$5.32-5.69) per kilogram.

    Farmers are not replanting extensively as they switch to higher-value crops and face decreasing land availability. Globally, this year’s pepper output is likely to be approximately 530,000 tonnes, slightly more than in 2025 but still less than in 2024, while demand remains strong.

    Exporters also face increasing logistical difficulties due to escalating tensions in the Middle East, which has led to a three to four-fold increase in shipping costs. The closure of the Strait of Hormuz to commercial container traffic has disrupted key shipping routes, causing severe congestion at major transshipment hubs. This has forced some exporters to pause new orders to mitigate risks associated with rising costs and delivery delays. Persistent disruptions may impact the sector’s export growth outlook for 2026.

    Questions & Answers

    What was the value of Vietnam’s pepper exports in the first quarter of 2026?
    The value of Vietnam’s pepper exports in the first quarter of 2026 was US$430 million.

    Who were Vietnam’s primary pepper buyers in March of 2026?
    The United States and China were Vietnam’s primary pepper buyers in March of 2026.

    What concerns does the Vietnam Pepper and Spice Association have for the future?
    The Association has concerns about growing supply-demand imbalances, unfavorable weather conditions, ageing plantations, and increasing logistical difficulties due to escalating tensions in the Middle East.

  • Despite Shipping 7 Million Tonnes, Vietnam Rice Exports Witness Slump Amid Falling Prices and Weak Global Demand

    Despite Shipping 7 Million Tonnes, Vietnam Rice Exports Witness Slump Amid Falling Prices and Weak Global Demand

    From the start of the year through October 15, Vietnam exported more than 7 million tonnes of rice. Despite this significant export volume, domestic paddy and rice prices have seen a decline due to reduced purchases from exporters.

    Rice Export Data

    The cumulative rice exports from Vietnam for the mentioned period were 7.02 million tonnes. These exports were valued at approximately $3.59 billion. When compared to the same time frame from the previous year, there was a 4.4% decrease in volume and a 21.9% reduction in value, according to data from the Vietnam Food Association (VFA).

    Last week, the cost of 5% broken jasmine rice was between $420 and $435 per tonne, which is close to a two-month low. A trader based in Ho Chi Minh City reported that domestic trading activity has been relatively stagnant. This is primarily due to many exporters slowing their paddy purchases from farmers as a result of weak overseas demand.

    Domestic Market Performance

    In the domestic market, jasmine paddy was trading at approximately $0.20 per kilogram, reflecting a decrease from the previous week. Conversely, the price of ordinary paddy saw an increase to an average of $0.20 per kilogram, as reported by the VFA.

    In Can Tho, a city in the Mekong Delta region, prices for various types of paddy remained steady. For instance, jasmine paddy was priced at $0.36 per kilogram, OM 18 at $0.29, IR 5451 at $0.27, and ST25 at $0.40, as per the data shared by the Institute of Policy and Strategy for Agriculture and Environment.

    In An Giang province, the Department of Agriculture and Environment reported that fresh paddy prices ranged from $0.21 to $0.25 per kilogram, depending on the variety. Retail rice prices within the province were observed to range between $0.52 and $0.95 per kilogram.

    Production Updates

    Regarding production, the Ministry of Agriculture and Environment stated that by October 20, nearly 1.24 million hectares of the 2025 summer-autumn crop were sown across the Mekong Delta provinces. Harvesting has been completed with an average yield of approximately 6.06 tonnes per hectare, or an estimated total of 7.51 million tonnes of paddy.

    For the autumn-winter crop, 763,000 hectares were planted, surpassing the planned area by 102.8%. Of this, 263,000 hectares have been harvested with an average yield of 5.68 tonnes per hectare.

    Questions & Answers

    What is the total volume of rice that Vietnam exported from the beginning of the year through October 15?
    Vietnam exported more than 7 million tonnes of rice during this period.

    How have domestic paddy and rice prices in Vietnam been affected?
    Domestic paddy and rice prices have seen a decline due to reduced purchases by exporters.

    What has been the impact on domestic trading?
    Domestic trading activity has been relatively stagnant due to many exporters slowing their paddy purchases from farmers because of weak overseas demand.

  • SeaCube Cold Solutions Partners with The Wonderful Company to Establish Primary California Depot in Shafter

    SeaCube Cold Solutions Partners with The Wonderful Company to Establish Primary California Depot in Shafter

    SeaCube Cold Solutions (SCS), an affiliate of SeaCube Container Leasing and a leading provider of portable cold storage, announces a new partnership with The Wonderful Company. Under this agreement, The Wonderful Company’s Shafter facility will serve as the primary California depot for SCS, providing reefer storage and maintenance and repair services in the region.

    As part of SeaCube Container Leasing, SCS is backed by over 30 years of experience in refrigerated equipment, providing unmatched reliability and innovation in cold chain logistics. This new facility in Shafter represents a significant step forward in SeaCube’s investment in strategically located infrastructure to support its growing SCS customer base.

    “Partnering with The Wonderful Company at the Shafter depot marks a significant step in strengthening our presence in a key logistics corridor,” said James Armstrong, Senior Vice President of SeaCube Cold Solutions. “We’re excited to launch operations at the Shafter, California depot, where we are establishing a significant refrigerated container presence to support not only California’s Central Valley but also a 250-mile radius.

    This location strategically extends our reach across the West Coast, including Arizona and Nevada. With the addition of Shafter, SeaCube Cold Solutions now has full coverage over the entire Southwest Region.”

    The Shafter depot will serve as a hub for both storage and maintenance of SeaCube refrigerated containers. Its strategic location offers direct access to key customers in California’s Central Valley, while its position within a less congested logistics park provides efficient transportation routes to the Los Angeles basin, Arizona, and Nevada. SeaCube is the first—and currently the only—reefer operation at the facility.

    “SeaCube’s portable cold storage solution offers tremendous flexibility during seasonal market fluctuations. We are pleased to have their support and involvement in the Wonderful Logistics Center,” said Sepehr Matinifar, Vice President of Logistic Services at the Wonderful Company.

  • Sea shipping costs dip amid sliding demand

    Sea shipping costs dip amid sliding demand

    Sea shipping costs have plunged by over 80% from the previous peak as consumption has dropped amid inflation concerns. Tran Lam Son, CEO of wood and furniture exporter Thien Minh, said that shipping a container to Europe now costs around $1,700, down nearly 92% from the peak of $20,000 a couple of years ago.

    The price drop poses opportunities for businesses like Thien Minh but is perceived as a negative sign for the logistics sector.

    Logistics platform Phaata has data showing that shipping a 40-foot container from Ho Chi Minh City to Northern Europe now costs $1,700, down from $15,000 in January.

    From HCMC to Los Angeles, the average price is now $1,400, compared to $12,000 in September 2021. To New York, freight costs $2,900 against $15,000 two years ago.

    From Asia to India costs have plunged by over 90%, said Le Thi Lan Anh, business director of logistics firm MH Great Sun.

    Phaata CEO Nguyen Hoai Chung said that prices are now plunging because consumer demand in North America and Europe has plummeted due to inflation and forecasts of economic difficulties.

    Inventory in these regions is still high and so importers do not need to buy more from Asian countries, including Vietnam, he added.

    Slower manufacturing activity in China in recent years has reduced pressure in ports and congestion is no longer a problem, he said.

    Weak demand is likely to persist throughout this year. The International Monetary Fund last month forecast that global trade growth will drop from 5.4% last year to 2.4% this year.

    American spending on goods has dropped 5.4% from the peak in March 2021.

    Logistics giant Maersk anticipates that container shipping demand will drop by 2.5% this year.

    The supply of container ships, however, is expected to rise in this and next year and many ships are set to be completed.

    Container ship capacity is set to increase by 7.8% this year while demand is expected to rise 3.5%. In 2024 the two figures are expected to be 8.3% and 3.5% respectively.

    This shows that there will be an oversupply of container ships in 2023 and 2024, and competition in the logistics sector is set to be intense, Chung said.

    SSI Securities Corp. analysts said in a report that demand for goods from Vietnam will likely resume in the second half of the year when the shopping season arrives and after unsold inventory has been liquidated in Europe and the United States.

    Anh, however, has a more pessimistic forecast.

    “There is no sign that the financial market will recover this year,” said Anh. “Deposit interest is still rising and a recovery in the logistics industry is not expected until the very end of 2023.”

    Phaata CEO Chung said that container shipping prices to North America and Europe will continue to stay low until recovering in the fourth quarter as Christmas shopping rises.

    Next year, prices will continue to fall as container supply outweighs demand.

    “The logistics sector will see brighter signs in 2025 and prices will resume to pre-pandemic levels,” said Chung, “with a more balanced supply and demand relationship.”

    Chung advises logistics firms to expand their markets to other Asian destinations such as China, Japan, South Korea and Southeast Asian countries.

    Lees ook:

    Lees ook:

  • Vietnam poised for record trade

    Vietnam poised for record trade

    Vietnam’s foreign trade is set to exceed US$700 billion this year, the highest ever, the customs department said.

    It has risen steadily from $500 billion in 2020 and $600 billion last year.

    In the first 11 months exports rose bviy 13.4% from a year earlier to $342.2 billion, and imports were up 10% to $331.6 billion, resulting in a surplus of $10.6 billion.

    Exports to the U.S. alone, the largest export market, were worth $101.5 billion. Imports from China, the
    country’s biggest source, topped $109.9 billion.

    According to the General Department of Vietnam Customs, the country’s global import-export ranking
    will go up this year.

    In 2021 the World Trade Organization had ranked Vietnam 23rd in terms of exports and 20th in imports.

    In the 10-member ASEAN, Vietnam ranked second behind only Singapore.

    Lees ook:

  • Shipping firms sail past annual profit target in 9 months

    Shipping firms sail past annual profit target in 9 months

    Many shipping firms have earned profits surpassing their annual target in the first nine months of the year, riding a wave of high demand and high freight rates.

    The Petrovietnam Transportation Corporation recorded after-tax profits of nearly VND390 billion ($15.7 million) in the third quarter, more than 2.5 times year-on-year. Its pre-tax profits of over VND1.035 trillion in the first nine months exceeded 72% of its annual plan.

    The Hai An Transport and Stevedoring Joint Stock Company saw its Q3 after-tax profit increase by over 2.7 times year-on-year to VND270 billion. The firm’s profit in the first nine months was 1.5 times bigger than its yearly plan.

    Similarly, Gemadept Corporation’s profit in the third quarter surged by over 76% to nearly VND290 billion. Its after-tax profit rose nearly 84%, realizing 94% of the annual plan.

    The Vietnam Ocean Shipping Jsc Earned gained pre-tax profits of VND566 billion in the first nine months, a 38% year-on-year increase, and exceeding the annual plan by 45%.

    While it saw a fall in Q3 profit, the Vietnam National Shipping Lines posted profits of over VND2.77 trillion in the first nine months, a year-on-year increase of more than 30% and more than 10% of the annual plan.

    Many shipping firms attribute the bigger profits to high demand and high freight charges. A manager with the Petrovietnam Transportation Corporation said freight charges had increased in the third quarter, resulting in bigger revenues.

    Over 77.8 million tons of cargo was transported by sea in the first nine months, up 27.5% over the same period last year, according to the General Statistics Office.

    According to data from Freightos, one of the world’s largest freight booking platforms, Feightos Baltic Index, the global container shipping index, fell from $6,577 to $4,060 in the third quarter. However, the rate was still 2-3 times higher than the average of $1,800-2,000 in the same period last year. Compared with the third quarter of 2019, the rate was nearly 3.5 times higher.

    In Vietnam, the sea freight index increased nearly 5% in the third quarter, and rose over 11% in the first nine months.

    Brokerage firm SSI Securities has predicted that the global index will gradually return to normal due to weaker demand and bigger supply of container ships in the last months of this year. Freight charges may decrease sharply next year if supply chain disruptions die down and China reopens to the outside world, it said.

    In Vietnam, charges may remain at their peak in 2023 as the market is still undersupplied as most of the Vietnamese fleet is leased to foreign markets under long-term contracts, according to SSI Securities.

    Lees ook:

    Lees ook:

  • New Shipping Methods That Are Changing the Way We Do Business

    New Shipping Methods That Are Changing the Way We Do Business

    As the world of e-commerce and online shopping continues to grow, so do the shipping options. Where once there were only a few methods to choose from, now there are many different types of shipping that cater to different needs. Here is a look at some of the new shipping methods that are changing the way we do business.

    One of the newest and most popular shipping methods is drones. Drones can deliver packages quickly and directly to customers without a traditional delivery driver. It can be beneficial for businesses that sell small items such as clothes or cosmetics and for companies that operate in rural areas where it can be challenging to find delivery drivers.

    Same-day delivery is available in major metropolitan areas across the country, and its popularity is growing. But international shipping takes time, as always, if you have to move your luggage from one country to another, e.g., the USA to India. You still need professional international movers from the USA to India.

    The traditional method of shipping is slow and expensive

    There is no doubt that conventional shipping methods are slow and costly. It has led to many businesses searching for new shipping methods that can save them time and money. The following paragraphs will discuss some of the new shipping methods that are changing the way we do business.

    One of the new shipping methods is called cross-docking. This method involves loading products onto a truck at one location and then unloading them at another location. It eliminates the need to transport the products to a central location before they are shipped. It can save a lot of time and money for businesses.

    Another new shipping method is called direct store delivery (DSD). It is where products are delivered directly to stores instead of being shipped to a central location first. It can also save time and money for businesses as it reduces handling and transportation costs.

    Faster and cheaper shipping methods for both domestic and international shipments

    The way we ship goods has changed dramatically in the last few decades. New techniques and technologies have made it faster and cheaper to ship goods than ever before. It has revolutionized how businesses operate and has enormously impacted the global economy.

    One of the most significant changes has been the introduction of containerization. It is a system where goods are shipped in standardized containers that can be easily loaded and unloaded. It has dramatically speeded up the shipping process and reduced costs.

    Another major change has been the development of express shipping services like FedEx and UPS. These companies offer fast, reliable shipping at reasonable prices. It has enabled businesses to get their products to customers quickly, regardless of distance.

    Finally, the rise of e-commerce has had a considerable impact on shipping.

    Benefits of new shipping methods: speed and efficiency

    In an ever-changing and fast-paced world, businesses are always looking for ways to increase speed and efficiency. New shipping methods have arisen that are changing the way we do business. The following are some of the benefits of these new shipping methods:

    • They allow for faster delivery times. It is because they use new technology to track shipments and optimize routes. As a result, customers can receive their orders more quickly and without any delays.
    • They are more cost effective than traditional shipping methods. It is because they use less fuel and fewer resources overall. In addition, they often offer discounts for bulk orders or items that are shipped frequently.
    • They are more environmentally friendly than older shipping methods. It is because they produce less pollution and waste.

    New shipping methods: a growing market

    As the e-commerce industry continues to grow, so do the shipping methods used to fulfill orders. What used to be a one-size-fits-all approach is now being replaced by more customized, faster, and cheaper shipping options. Here are some of the new shipping methods that are changing the way we do business:

    Dropshipping: Dropshipping is a type of e-commerce where businesses don’t keep any inventory on hand. Instead, when a customer places an order, the business contacts a supplier, who then ships the product directly to the customer. It allows businesses to sell products without worrying about inventory or fulfillment.

    Subscription boxes: Subscription boxes are becoming increasingly popular, especially among millennials. These boxes are filled with curated items that are sent to customers regularly (usually monthly).

    Conclusion:

    New shipping methods are changing the way we do business. They are faster, more efficient, and allow us to ship items to our customers more timely. This new way of doing business is revolutionizing the shipping industry and making it more competitive.

     

    Lees ook:

    Lees ook:

    Lees ook:

  • FedEx to expand operations at Guangzhou hub

    FedEx to expand operations at Guangzhou hub

    FedEx Express announced last week it has signed an agreement with Guangdong Airport Authority Logistics Company to expand and upgrade the FedEx Guangzhou Gateway by establishing a new operations center at Guangzhou Baiyun International Airport.

    The new ‘FedEx South China Operations Centre’ will cover an area of over 41,000 square metrers, more than double the size of its existing gateway, and is scheduled for operations in 2027.

    The facility will connect outbound shipments from southern China with the FedEx international network through the Asia Pacific hub, where it will also receive and process inbound shipments.

    The operations center will include offices, state-of-the art sorting systems, operations areas and a warehouse with a capacity to sort up to 25,000 packages and documents per hour, three times the sorting efficiency of the current facility.

    FedEx’s Asia Pacific Hub at Guangzhou Baiyun International Airport connects Asian customers to the US and North American network through Anchorage and Memphis (USA), and the European network through Paris (France) and Cologne (Germany).

    The FedEx Asia Pacific Hub currently operates more than 210 flights per week, with the Guangzhou gateway handling approximately 40 percent of the hub’s import and export cargo volume.

    Lees ook:

    Lees ook:

  • Shipping firms report double-digit growth

    Shipping firms report double-digit growth

    Shipping companies have had one of their best quarters in years with most reporting double-digit growth thanks to high rates.

    Vinalines, the country’s biggest shipper, saw a near doubling of its profits year-on-year to VND1.43 trillion (US$61.19 million) in the second quarter.

    Private player Gemadept reported an 87 percent increase in profits to VND334 billion, the highest since the second quarter of 2018.

    Hai An Transport and Stevedoring made it to the top three after profits rose 3.3 times to VND324 billion.

    It was its most profitable quarter in nearly six years.

    Vietnam Ocean Shipping JSC (Vosco)’s profits were only up 7.5 percent to VND260 billion, but it was its most profitable quarter in 14 years.

    The Petrovietnam Transportation Corp (PVTrans)’s gross profit rose to a 15-year high of VND440 billion, but net profit fell 16 percent to VND265.5 billion as financial income decreased.

    The industry attributed growth to high freight rates, which have quadrupled since 2020 to $8,000 for a 40-feet container, according to data brokerage Bao Viet Securities compiled from Bloomberg.

    But market research firm FiinGroup warned that in the second half of this year the rates would fall and costs, especially of fuel, would rise.

    It also expected China to continue with its zero-Covid strategy, which could drag demand down.

    China accounted for a fourth of global goods throughput last year, according to data from its Ministry of Transport and German data portal Statista.

    Lees ook:

    Lees ook:

  • Shipping firms post profit surge

    Shipping firms post profit surge

    Many shipping companies have posted a year-on-year surge in profits in Q3, driven primarily by higher freight rates.

    The Vietnam Maritime Corporation (VIMC) has recorded third-quarter revenues of VND4.127 trillion ($179.4 million), up 71 percent year-on-year, and profits of VND760 billion, compared to nearly VND30 billion in losses during the same period last year.

    The VIMC’s ocean shipping operations transported over 18 million tons of cargo and earned profits of more than VND380 billion.

    The Vietnam Ocean Shipping Joint Stock Company (Vosco), a VIMC affiliate, posted a net profit of nearly VND186 billion in Q3, against net losses of over VND21 billion in the same period last year. Vosco’s total profits in the first nine months rose to VND409 billion, against losses of more than VND139 billion during the same period last year.

    Another VIMC affiliate, the Transport and Trading Services Joint Stock Company (Transco), recorded profits of VND9 billion in Q3, up from VND326 million in the same period last year.

    Meanwhile, Hai An Transport and Stevedoring Joint Stock Company (HAH) made net profits of VND476 billion, up 65 percent, and after-tax profit of over VND100 billion, up 370 percent on-year, the highest profit hike since it became a listed firm in 2014.

    In the first nine months of this year, HAH recorded net revenues of VND1.284 trillion and after-tax profits of VND284 billion, up 50 percent and double year-on-year, respectively.

    A surge in freight rates has been the main contributor to the profit surge, market observers say. The average cost for transporting a standard container from China to the West Coast of the U.S. is $20,586, nearly double that of July and double that of January, Fox Business reported.

    With Covid-19 outbreaks easing in many big economies, import and export activities are surging, and Vietnam is benefiting from the free trade agreements it has signed.

    According to the Vietnam Maritime Administration, seaports nationwide handled over 535 million tons of cargo in the first nine months of this year, a year-on-year rise of 3 percent.

    Lees ook: