Issues for Development of Ship Fleet in the 21st century
- Author Huu Cuong Le
- Co-Author Phuoc Quy Phong Nguyen, Thanh Hai Truong
- DOI
- Country : Vietnam
- Subject : Transport
Keywords : advantages, ship fleet, development solutions
Abstract
The market share of import and export of Vietnam's fleet in recent years has remained at 10-12%. The world shipping market has fallen into crisis since 2008 and continues to this day. The Dry Bulk Freight Index (BDI) has fallen from 11,793 points in May 2008 to 290 points in the first quarter of 2016. Freight rates have plummeted. Many major foreign shipping lines are losing money and restructuring like Mearsklines, Hyundai. Especially, Hanjin, one of the 10 biggest shipping lines in the world, has filed for bankruptcy, causing many losses to the related parties. According to the Vietnam Maritime Administration, in 2016, the total volume of transport carried by Vietnam's shipping fleet was estimated at 123.8 million tons, an increase of 4% compared to 2015. Business situation of transport enterprises Vietnam sea in the past year continued to face many difficulties due to excess supply of ships, low growth of cargo, and reduced freight rates. Many shipping companies, including large ones, continue to suffer losses. In particular, the market share of import and export of Vietnam's fleet in recent years still maintained at 10-12%. The import and export market of Vietnam's sea-going ships is mainly Middle East, Southeast Asia and Asia, and a small number of Vietnamese ships have exported to Eastern European countries. For dry-bulk import and export, Vietnam's fleet occupies about 12% of the market. There are now direct trains to markets Eastern Europe, Middle East, South America but in small quantities. For export and import of crude oil for export, Vietnam's fleet only gained modest market share. The reason is that the Vietnamese marine fleet has not met strict requirements on quality, safety standards, prevention of environmental pollution ... of foreign import-export companies.
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