Abstract
The last quarter saw Vietnam expand its presence on the global maritime map
with the inauguration of the
country' s first deepwater container terminal
at Tan Cang - Cai Mep, which is part of Saigon New Port.
The terminal is
expected to significantly expand shipping links between Vietnam and
international ports
and, since its opening in June, has been added as a
port of call on Asia-US services operated by APL,
MOL and Hanjin Shipping
- the first direct container routes between Vietnam and the US. While the
terminal is expected to allow Vietnam to profit from the long-term growth of
its export sector, the
development comes during a period of severe
downturn for the country' s maritime sector, which we
expect will continue
to have an adverse effect on throughput levels over the duration of the
year.
In 2009 BMI predicts that tonnage throughput at Saigon New Port will
decline by 19.1% to 23.3mn
tonnes with container volumes passing through
the port falling by a forecast 17.5% to 1.663mn TEUs. We
expect the
recovery in Vietnam' s shipping sector to begin in 2010, with throughput at the
nation' s ports
forecast to record positive growth.
The throughput
trends at Vietnam' s ports mirror the trade situation in the country as a
whole, with total
trade expected to decline by 14.1% in 2009. BMI
forecasts a solid recovery to begin in 2010 with total
trade expected to
increase by 6.1% over the 2010-2013 period.
As well as an in-depth
analysis of Vietnam' s shipping sector, BMI' s Q309 Vietnam Shipping Report
offers
a global overview of the dry bulk, liquid bulk and container
sectors and overviews of the 11 largest
shipping lines and their
strategies over the quarter to weather the downturn in trade volumes.
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