The Maritime Administration has directed ports to closely monitor service prices and require businesses to sign long-term contracts with shipping lines in order to prevent price fluctuations. This was revealed after a recent inspection of the shipping situation, which included monitoring service prices at major ports and assessing container freight transport at ports in Quang Ninh, Hai Phong, Vung Tau, and Ho Chi Minh City.
The increasing freight shipping prices to European countries and the US due to congestion at some Asian ports have been causing fluctuations in container shipping service prices from Asia to Europe and America since the beginning of the year. According to Drewry, an independent maritime research center, prices have seen a significant increase, peaking in January and continuing to rise by May. Despite this, port operations have remained smooth with no cargo congestion reported. Major shipping lines have affirmed that there is currently no shortage of containers, ensuring they can meet the demands of import and export activities.
To address the forecasted increase in cargo output and mitigate the impacts of price fluctuations, the Maritime Administration has directed port authorities and businesses to expedite the release of goods, reduce administrative procedures, and facilitate smooth operations. Small shippers are particularly affected by the rise in freight rates while large shippers with stable goods sources are advised to sign long-term contracts to stabilize rates. In the long term, the Maritime Administration plans to coordinate with industry associations to develop production and transportation plans, sign long-term contracts with shipping lines, and monitor service prices and surcharges at ports. The administration will also work with customs to expedite goods release at seaports and allocate resources for dredging maritime channels to facilitate smoother operations.
Despite rising container freight rates from Asia to Europe and America since the beginning of the year due to congestion at some Asian ports, Vietnam’s seaports have experienced significant growth in import and export container goods during