Japan-invested port terminal operator in northern Vietnam achieves record throughput in 2024
Tan Cang Hai Phong International Container Terminal Company Limited (TC-HICT) has announced a record container handling volume of over 1.6 million TEUs in 2024, up 26% year-on-year.
The total included 805,701 TEUs in the second half of 2024, surpassing the first-half figure of 799,536 TEUs.
The company, which operates wharves No. 1 and 2 at Lach Huyen Port in Haiphong city, recorded a total of 471 ship arrivals last year.
Wharves No.1 and 2 at Lach Huyen deepwater port in Haiphong city, northern Vietnam. Photo by courtesy of the port.
With this record-high container throughput, TC-HICT remains the biggest terminal operator in northern Vietnam and ranks among the top four nationwide, holding a 23% market share at ports in Haiphong city.
TC-HICT, with a charter capital of VND2.46 trillion ($97.17 million), is a joint venture between Vietnam’s port operator Saigon Newport Corporation (51%), Japan’s Mitsui OSK Lines (17.5%), Itochu (15%), and Taiwan-based Wan Hai Lines (16.5%).
As the first deep-water terminal in northern Vietnam, Lach Huyen Port holds significant growth potential, particularly with the upcoming addition of new wharves.
Specifically, wharves No. 3 and 4, developed by Hai Phong Port - a subsidiary of VIMC – with a total investment of VND7 trillion ($276.3 million), and wharves No. 5 and 6, developed by Hateco at a cost of VND6.42 trillion ($253.6 million), are all set to come on stream in the first quarter of this year.
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