Sector Insight

- Global logistics market: The total throughput of containerized cargo through global ports has grown strongly in the first six months of the year. Most regions achieved double-digit growth in the first half of 2024. The freight rates are likely to remain high due to the concerns about disruptions and higher tariffs on Chinese-made goods.

- Vietnam's logistics market: In the first six months of 2024, Vietnam's container throughput reached 14.3 million TEUs, an increase of 22% YoY. Major port areas such as Vung Tau, Hai Phong and Ho Chi Minh City saw cargo throughput increase by 30%, 15% and 13% YoY, respectively. The Vietnamese logistics industry is forecast to continue its growth in 2H2024, thanks to: (1) high demand for goods in the autumn seasons and holiday seasons, (2) low inventories in the main export markets of Vietnam.