Vsico Shipping Joint Stock Company (Vietnam)

The subject specializes in providing local transportation services by sea, road and rail. As revealed, it is owning 5 ships with deadweight capacity of about 600 TEU – 1,000 TEU per ship, 2 railway trains, and about 70 road vehicles. With the North-South line, the company focuses on transporting materials like cement, stone powder, plastic granule, electronic components, etc. With the South-North line, it transports finished products such as electronic products and fabrics. The company plans to expand to shipping goods to foreign countries such as China and Laos in the future. In 2021-2022, demand for freight shipping increased strongly, meanwhile, the supply of ships decreased because many ships were leased to foreign partners; hence, the freight charge soared. As a result, the subject reached impressive boom in revenue and profit. However, in 2023, the situation slowed down because the leased ships returned from the end of the contract, creating strong competition. The business results in this year were only expected to equivalent to 2020, the subject's staff shared.